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Business rates revaluation 2023

What is revaluation?

Revaluation is a review of the rateable values of all non-domestic properties in England and Wales carried out by the Valuation Office Agency (VOA).

This normally happens every three years.

How is my rateable value calculated?

In order to calculate the rateable value, the VOA analyses the rental property market to ensure that rateable values reflect the property market accurately.

Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 revaluation, that date was 1 April 2021.

Who decides the valuation date?

The government decides the valuation date.

It chose 1 April 2021 so that valuations would reflect the impact of COVID-19 on the property market.

When will I receive my business rates bill?

You can now see the future rateable value for your property and get an estimate of what your business rates bill may be from 1 April 2023.

You can do this through the GOV.UK Find a business rates valuation (opens new window) service.

Your business rates bill for the year 2023-24 will be issued to you in March 2023.

Who do I contact if my property has changed?

If a property has changed, for example its floor sizes are different, you can let the VOA know using the GOV.UK Business rates valuation account (opens new window) service.

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

If you believe your future rateable value is too high, you can get in touch with the VOA using the online GOV.UK Business rates valuation account (opens new window) service.

You can only do this after 1 April 2023, which is the date when the future valuation legally takes effect and can be challenged.

You must continue to make payments of your business rates as normal. If you do overpay, you can request a refund from us.

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