Revaluation 2023

What is Revaluation?

Revaluation is a review of the rateable values of all non-domestic properties in England carried out by The Valuation Office Agency (VOA). This normally happens every three years.

How is my rateable value calculated?

• Your rateable value is based upon the amount of rent your property could have been let for on a set valuation date
• For the 2023 Revaluation that date was 1 April 2021. This was during the Coronavirus (COVID-19) Pandemic and the rent information used by the VOA reflected this.
• The VOA analyses the rental property market to ensure that rateable values reflect the property market accurately..

How is my business rates bill calculated?

• Your business rates bill is calculated using a rateable value. From 1 April 2023 your business rates bill will be based upon the 2023 rateable value.
• You can estimate what your business rates bill may be from 1 April 2023 through Find a Business Rates Valuation Service
• The amount to pay could change because of reliefs and transitional arrangements

Who do I contact if my rateable value is too high?

From 1 April 2023, if you think your 2023 rateable value is too high you can contact the VOA using a Business Rates Valuation Account.
You must continue to pay your business rates as normal until a decision has been made.

Who do I contact if my property has changed?

If your property has changed, for example its floor sizes are different, then you can let the VOA know now using a Business Rates Valuation Account.