2023 business rates revaluation
Key information
The Valuation Office Agency (VOA) regularly updates the rateable values of business and other non-domestic properties (properties that are not just private homes) through a process called 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.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation that's 1 April 2021. We use these rateable values to calculate business rates bills from 1 April 2023.
How to query your rateable value
Although we are responsible for anything to do with your business rates bill, the VOA is responsible for the valuation of your property. You will need to contact them for all queries about your rateable value. To contact the VOA:
- fill in the contact form
- call 0300 050 1501
How to find your rateable value
You are now able to see the future rateable value for your property and get an estimate of your 2023/24 business rates bill.
How to change your property details or challenge your rateable value
To tell the VOA about changes to property details such as floor area sizes and parking - you need to register for a VOA business rates account. The VOA may accept your changes and update the current and future valuations.
If you think your rateable value is too high from 1 April 2023, you will also need to a register for a VOA business rates valuation account.
You must continue to pay your business rates as normal until they have made a decision. If you overpay, we will refund you.
You can only make a formal appeal against your 2023 rateable value once it comes in effect on 1 April 2023.
How Covid-19 affected future rateable values
Most rateable values are based 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.
If you want to appeal the current 2017 rating list
Any appeal of the current 2017 Rating List begins with a proposal to alter the rating list.
Before making an appeal, you can contact the VOA to discuss your rateable value and why you wish to appeal it.
They may be able to resolve your query by initially contacting them.
You must appeal before the 31 March 2023.
Transitional relief
Transitional relief, if applicable, limits how much your business rates bill can increase each year as a result of a revaluation, so that changes to your bill are phased in gradually.
From the 1 April 2023 Transitional Relief will only apply where there's an increase in a rateable value. If the rateable value is decreasing, the business will benefit from the full reduction straightaway from 1 April 2023.
The Transitional Relief cap increases each year depending on the rateable value band applicable. This cap is applied before any other reliefs and exemptions.
If your bill is increasing from 1 April 2023 Transitional Relief will be calculated as follows:
| Rateable value | 2023 to 2024 | 2024 to 2025 | 2025 to 2026 |
| Up to £20,000 | 5% | 10% plus inflation | 25% plus inflation |
| £20,001 to £100,000 | 15% | 15% plus inflation | 40% plus inflation |
| Over £100,000 | 30% | 30% plus inflation | 55% plus inflation |
Changes that affect self-catering holiday properties
There will be important changes to how self-catering holiday properties are assessed for non-domestic rates from 1 April 2023.
Under current regulations a property must be made available for short-term holiday bookings for a minimum of 140 days a year. There is no minimum requirement for actual bookings.
From 1 April 2023 the eligibility criteria will be:
- The property must be let commercially (with a view to making a profit) for short periods.
- These short periods must total 140 days or more in the previous and current years.
- The property must have been let commercially for 70 days or more in the previous 12 months.
The Valuation Office Agency will be contacting businesses to let them know about the new eligibility rules. After 1 April 2023 they will contact owners by writing to their billing address to confirm their eligibility.
These changes will apply for all holiday lets, both new and pre-existing.
New holiday lets will be liable for council tax until the property meets the eligibility rules.
For full details please visit changes to self-catering properties from April 2023.