Valuation Office Revaluation 2023
The Valuation Office Agency (VOA) regularly updates the rateable values of all businesses and other non-domestic properties (properties that are not just private homes) in England and Wales. This is called revaluation.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, the date was 1 April 2021.
We use these rateable values to calculate the business rates bills.
Revaluations are carried out to reflect changes to 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
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 on GOV.UK
Your property details need changing
To tell the VOA about change 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 or future valuations
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.
Use the link above to 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, the date was 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this.
The government announced a number of steps to help ratepayers when the revaluation comes into effect on 1 April 2023. We will put further information about how this affects businesses on our website, once further details are received.