Business Rates Revaluation

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Business rates 2023 revaluation

The business rates revaluation is a review of the rateable values of all non-domestic properties in England and is carried out by the Valuation Office Agency.

This is done to maintain fairness in the system by redistributing the total amount payable in business rates and reflecting changes in the property market.

The Valuation Office Agency values a property by its rateable value. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 rating list, that date was 1 April 2021.

Finding your rateable value

You can find a rateable value for a property through the Valuation Office Agency's section of the GOV.UK website.

What to do if your property details need changing

To tell the Valuation Office Agency about changes to your property details (such as floor area sizes and parking) you need a Business Rates valuation account. The Valuation Office Agency may accept your changes and update the valuation.

To sign in or register for a Business Rates valuation account, go to GOV.UK's business rates valuation account page.

Appealing against your rateable value

If you believe your rateable value is too high, you can make a formal challenge to the Valuation Office Agency. You will need a business rates valuation account.

You must continue to pay your business rates as normal until a decision has been made.

Transitional Rate Relief

The Transitional Relief Scheme limits how much your business rates bill increases by as a result of the revaluation from 1 April 2023.

It means that changes to your bill because of an increase in the rateable value, is phased in more gradually. The percentage increase will depend on your rateable value, as set as below:

	2023/24	2024/25	2025/26
Rateable value up to £20,000	5%	10%	25% plus inflation
Rateable value £20,001 to £100,000	15%	25%	40% plus inflation
Rateable value over £100,000	30%	40%	55% plus inflation

There is no need to make an application for transitional relief. If you qualify we will automatically apply the relief to your account and include it on your business rates bill.

Supporting Small Business Rate Relief

The 2023 Supporting Small Business Relief Scheme limits the increase in a business rate bill at £600 per year for any business losing eligibility for some or all of their Small Business Rate Relief entitlement as a result of the 2023 revaluation.

The scheme is in place for 3 years, ending 31 March 2026. The reduction will end sooner than this in the following circumstances:

when your bill reaches the amount you would have paid without the scheme
if the property becomes empty
if the property is occupied by a charity or Community Amateur Sports Club

There is no need to make an application for this relief. If you qualify, we will automatically apply the relief to your account and include it on your business rate bill.