Revaluation of business rates

Revaluation of business rates

The Valuation Office Agency (VOA) has updated the rateable value of all business properties, known as revaluation. This came into effect from 1 April 2023.

Find and check your business rates valuation - GOV.UK

Revaluation process

At revaluation, the Valuation Office Agency (VOA) adjusts the rateable value of business properties to reflect changes in the property market.

The most recent revaluation came into effect in England and Wales on 1 April 2023, based on rateable values from 1 April 2021.

The next revaluation will come into effect on 1 April 2026, based on rateable values from 1 April 2024.

Find your business rates valuation online - GOV.UK

Revaluation is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market. Revaluation does not raise extra revenue overall.

The Valuation Office Agency (VOA) uses a wide range of property information and rental and other evidence to compare values across similar types of properties in order to set the rateable value.