Revaluation 2023
The Valuation Office Agency (VOA) regularly updates the rateable values of all business and other non-domestic properties (properties that are not just private homes) in England and Wales. This is called a revaluation.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, that date was 1 April 2021.
We use these rateable values to calculate business rates bills.
Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information.
The next revaluation will come into effect on 1 April 2023.
How Coronavirus (COVID-19) affected future rateable values
The VOA bases most rateable values on an estimate of what it would cost to rent a property for a year, starting on a certain date.
For the 2023 valuation, that date was 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this.
Contacting the Valuation Office Agency
We are responsible for anything to do with your business rates bill. The VOA is responsible for the valuation of your property. You will therefore need to contact the VOA for all queries about your rateable value.
Finding your rateable value
You are now able to see the future rateable value for your property and get an estimate of what your 2023/24 business rates bill may be. You can do this through the VOA’s Find a Business Rates Valuation Service (opens in a new window) on GOV.UK.
Your property details need changing
To tell the VOA about changes to your property details (such as floor area sizes and parking) you need a business rates valuation account. The VOA may accept your changes and update the current and future valuations.
Sign in or register for a business rates valuation account (opens in a new window)
You think your rateable value is too high
As the 2017 rating list is closing, you only have until midnight on 31 March 2023 to submit a Check to the Valuation Office to ensure you don’t lose out on any reliefs or adjustments to your business rates bill.
To submit a Check about your property to the Valuation Office, you will need to create a Government Gateway account if you do not already have one and claim the property before you can make a Check.
The Valuation Office has helpful articles and YouTube videos on how to claim a property for business rates and about the 2023 Revaluation.
From 1 April 2023, customers will only be able to make a Check against the 2023 rating list.
From 1 April 2023, you will need to use a business rates valuation account to tell the VOA you think your rateable value is too high. You must continue to pay your business rates as normal until a decision has been made.
Sign in or register for a business rates valuation account (opens in a new window) ready for 1 April 2023.
Transitional arrangements
Property values normally change a good deal between each revaluation. Transitional arrangements help to phase in the effect of these changes by limiting increases in bills.
To help pay for the limits on increases in bills, there also have to be limits on reductions in bills.
Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the appropriate multiplier). The scheme applies only to the bill based on a property at the time of the revaluation.