Business rates revaluation 2023

What are business rates?

Business rates are a local tax paid by the occupiers of all non-domestic/business property, in the same way that council tax is a tax on domestic property.

Business rates are charged on most business properties such as shops, offices, pubs, warehouses and factories. However, the property doesn't have to be used for a business - if it is used for purposes which are not domestic it is likely to be rateable. We will send you a business rates bill each year.

Business rates revaluation

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.   

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 1 April 2023, the rateable values will be based on the valuation date of 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.

Contacting the Valuation Office Agency 

We are responsible for anything to do with your business rates bill. The Valuation Office Agency (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' 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 

You think your rateable value is too high 

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 ready for 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.