Revaluation 2023
Revaluation is a review of the rateable values of all non-domestic properties in England and Wales carried out by the Valuation Office Agency (VOA).
It affects over two million non-domestic properties (not private homes). For revaluation 2023 the valuation date is 1 April 2021. The Government chose this date so that valuations would reflect the impact of COVID-19 on the property market.
The new valuation came into effect on 1 April 2023 and is used to calculate the business rates bills for 2023/24.
Regular revaluations mean that changes in the property market are reflected in customers' business rates bills.
Check, Challenge or Appeal Against Rateable Value
What you need to do
- Click: www.gov.uk/voa/revaluation to view your draft rateable value.
- Find: your property by postcode or address.
- Review: the information to make sure all your property information held by the VOA is correct.
It will only take a few minutes to do this.
If you think the information held about your property is incorrect, ask the VOA to update your records.
This can be done at www.gov.uk/voa/revaluation.
If you do not do this, you risk paying too much in business rates.
Appeals against rateable values can be made free of charge and you do not have to be represented in discussions.
However, should you wish to be represented be aware that members of the Royal Institution of Chartered Surveyors and the Institute of Revenues Rating and Valuation are qualified and regulated by rules of professional conduct designed to protect the public from misconduct.
Beware
Take great care if employing a rating adviser and, if necessary, seek further advice before entering into a contract.
The Valuation Office Agency have also advised at 17 June 2024 to beware of false claims about deadlines to appeal the 2023 list for Business Rates here
Further information on how to appeal is available on the Valuation Office Agency's website.
Rateable Value
The VOA values a property by its rateable value.
The rateable value is the amount of rent that a property could have been let for on a set date.
Further information including a series of blogs that explain how the VOA value different properties
Revaluations are not carried out to generate any extra revenue; they help to redistribute the total amount of business rates paid to local councils.
Business Rates Completion Notice
A completion notice is issued when a newly constructed building (or existing building that has been spilt or merged) is considered complete for business rates.
The completion notice will state the building it relates to and the day which the Council considers to be the completion date.
A completion notice in respect of business rates means that from the date indicated a maximum 3 or 6 month exemption period will be awarded provided the property remains unoccupied. After the initial exemption has expired, full rates will become due.
If you wish to appeal against a completion notice, liability will continue as if the date specified in the notice had been determined as the completion date. An appeal against a completion notice may be made direct to the Valuation Tribunal within four weeks of the notice being served on you.