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If you have had a change in your circumstances which will impact your Business Rates account, please advise us by completing our online Change in Circumstances form

Business Rates Revaluation

Revaluation 2023 and Transitional Arrangements (2023)

All rateable values are reassessed at a general revaluation. The next revaluation will come into place on 1 April 2023. Revaluations make sure each ratepayer pays their fair contribution and no more, by ensuring that the share of the national rates bill paid by any one ratepayer reflects changes over time in the value of their property relative to others.

A transitional relief scheme limits changes in rate bills as a result of the (2023) revaluation. Under the transitional scheme, limits continue to apply to yearly increases until the full amount is due (rateable value times the appropriate multiplier). The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after (2023), transitional arrangements will not normally apply to the part of a bill that relates to any increase in rateable value due to those changes.

Changes to your bill as a result of other reasons (such as changes to the amount of small business rate relief) are not covered by the transitional arrangements. The transitional arrangements are applied automatically and are shown on the front of your bill. Further information about transitional arrangements and other reliefs may be obtained from your local authority or the Introduction to Business Rates page on the Government websiteFind out more information on the (2023) revaluation.

At the Autumn Statement on 17 November 2022, the government announced a new transitional relief scheme. The scheme for 2023/24 will restrict increases in bills to 5% for business with small properties (up to and including £20,000 rateable value, 15% for rateable values between £20001 up to £100,000 and 30% for rateable values over 1000,000).

Business Rates were introduced on 1 April 1990 at which time all business premises were valued and their Rateable Values were entered into a local rating list. The Business Rate legislation allows for business properties to be revalued every five years. The last revaluation took effect from 1 April 2017. For more details visit www.gov.uk/voa/revaluation. You can also find information for businesses at the following place:
 

Local Rating List - A new list came into force on 01 April 2017. 

You can also see the valuation list with a copy of your entry by visiting the Valuation Office website. The Valuation Office, who are part of the Inland Revenue, are responsible for setting the rateable values.

If you have any queries regarding your rateable value you should contact them. Further information on business rates can be found at the Businesslink website.

What are Business Rates? 

Business rates is a local tax that is paid by the occupiers of all non-domestic/business property, in the same way that council tax is a tax on domestic property.

Business rates are charged on most business properties such as shops, offices, pubs, warehouses and factories. However, the property doesn't have to be used for a business - if it is used for purposes which are not domestic it is likely to be rateable.

Roles and responsibilities

The Valuation Office Agency sets the rateable value of business premises by using property details such as rental information. We use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill. 

What is the Rateable Value?

The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs. 
A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.
  • Until 31 March 2017, the rateable values will be based on a antecedent valuation date of 1 April 2008.
  • From 1 April 2017, the rateable values will be based on the antecedent valuation date of 1 April 2015.
  • From 1 April 2023, the rateable values will be based on the antecedent valuation date of 1 April 2021
If you think your rateable value is incorrect, you can find and view your property details here: 

Useful information

Contact us for more information

Business Rates
Telephone: 03004 560 560
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