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Business rates guide

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8. Business Rates Revaluation 2023

All non-domestic properties are usually revalued every five years by the Valuation Office Agency.

The next revaluation will take place on 1 April 2023.

What is the Revaluation?

The VOA regularly reassess and update the rateable values of all business properties, usually every five years. This is called a Revaluation. This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market. Revaluation does not raise extra revenue overall.  

The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs. A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.

⦁ Until 31 March 2023, the rateable values will be based on a valuation date of 1 April 2015
⦁ From April 2023, the rateable values will be based on the valuation date of 1 April 2021

How can I look up my new rateable value?

The Valuation Office Agency have a webpage where you can find your property and the new rateable value effective from April 2023

How do I appeal against my new Rateable Value?

You can only make a formal appeal against your 2023 rateable value once it comes into effect on 1 April 2023. You can find out more about the appeals process, including the reforms the Government has proposed here: How to appeal your rateable value