Business Rates Revaluation 2023

by | Nov 21, 2022 | News

You can now see the future rateable value for your business property.

The Valuation Office Agency (VOA) has updated the rateable values of all business, and other non-domestic, property in England and Wales.

These future rateable values will take effect from 1 April 2023.

What does this mean?

The information released today gives the future rateable values for non-domestic properties in England and Wales.

You can check the factual information used for your valuation and tell the VOA if anything is wrong.

The rateable value for your property is not what you pay in business rates or rent. Your local council uses the rateable value to calculate your business rates bill.


How your business rates bill is calculated

A rise in your rateable value does not necessarily mean your business rates bill will go up by a similar amount.

Your local council will calculate your bill by multiplying your rateable value by the multiplier set by the government. It will then apply any rate reliefs you are eligible for. Small business rates relief means that some businesses will not pay any business rates at all.

Charitable relief means that registered charities will only pay 20% of their business rates bill. Many charities will not pay any business rates at all.

The government has announced a package of rates relief for businesses as part of the Autumn Statement 2022.

The government also confirmed its commitment to reform of the business rates system by delivering more frequent business rate revaluations.


See the future rateable value for your business property

Get an estimate of what your business rates bill may be from 1 April 2023 through the Find a Business Rates Valuation Service on GOV.UK.

You can also:

  • check the factual details the VOA holds for your property
  • compare your property’s rateable value with similar properties in the area
  • check how your valuation was calculated.

You will need to sign into, or set up, a Business Rates Valuation Account to tell the VOA about changes to your property details. These changes can include things like floor area sizes and parking.

From 1 April 2023, you will be able to use your account to let the VOA know if you think your new rateable value is too high.