Rateable Values and the 2023 Revaluation
Most non-domestic properties have a rateable value.
The rateable value is set by the Valuation Office Agency (VOA) and is broadly based on the market rent for the property at a given date. The rateable value is not the amount you pay in business rates, but it is used by us to calculate your business rates bill.
You can find detailed information on how rateable values are worked out and on other Business Rates topics check the 'rateable value' of your property on the GOV.UK website.
You can also:
- request changes to property or valuation details if you think they are wrong
- view the valuation details of other properties
- challenge the rateable value if eligible
You can contact the VOA for advice via their contact form.
Appeal against your valuation
If you want to make an appeal against your rateable value, you should contact the Valuation Office Agency (VOA). If you cannot agree, your case will be referred to a tribunal. You must continue to pay your rates until the result of your appeal is determined. If you do not pay, as billed, recovery action may be taken even though an appeal is outstanding.
The VOA regularly updates the rateable values of all businesses and other non-domestic properties in England and Wales. This is called a revaluation.
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. For the 2023 valuation, the date the VOA used was 1 April 2021.
You can find out full details of your property's new rateable value using the VOA online tool. Your Business Rates bill will also show the rateable value. If the 2023 revaluation means you face a large increase in rateable value, you'll come under the transitional arrangements scheme. The details will be on your bill.