The Valuation Office Agency (VOA) regularly updates the rateable values of all business and other non-domestic properties (properties that aren’t just private homes) in England and Wales. This is called a revaluation.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, that date was 1 April 2021.
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.
The next revaluation will come into effect on 1 April 2023 and these rateable values will be used to calculate business rates bills.
Contacting the Valuation Office Agency
The council is responsible for anything to do with your business rates bill. The VOA is responsible for the valuation of your property. You will therefore need to contact the VOA for all queries about your rateable value.
Finding your rateable value
You are now able to see the future rateable value for your property and get an estimate of what your 2023/24 business rates bill may be. You can do this through the VOA’s Find a Business Rates Valuation Service on GOV.UK.
Your property details need changing
Before 1 April 2023, use the Find a Business Rates Valuation Service on GOV.UK to tell the VOA about changes to your property details (such as floor area sizes and parking).
After 1 April 2023, to tell the VOA about changes to your property details you will need to set up a business rates valuation account.
The VOA may accept your changes and update the current and future valuations.
You think the rateable value is too high
Before 1 April 2023, use the Find a Business Rates Valuation Service on GOV.UK to tell the VOA you think the rateable value is too high. You must continue to pay your business rates as normal until a decision has been made.
From 1 April 2023, you will need to use a business rates valuation account to tell the VOA you think your rateable value is too high.
How Coronavirus (COVID-19) affected the future rateable value
The VOA bases most rateable values 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.