What business property revaluation is, how it works and when the next revaluation starts.
What it is
Your premises are given a rateable value by the Valuation Office Agency (VOA), who are part of HM Revenues and Customs. We use this to calculate how much business rate you should pay.
How it works
At revaluation, the VOA adjusts the rateable value of business properties to reflect changes in the property market.
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. Since 2023 the rateable values will be revised every 3 years. Find out more about the 2023 business rates revaluation.
The VOA gathers as much evidence as possible about actual rents paid for properties so that they can set appropriate rental values.
A regular reassessment helps maintain fairness in the rating system by redistributing the total amount payable in business rates, reflecting changes in the property market.
When the next revaluation starts
The next Valuation List is due to start 1 April 2026.
The VOA are sending Rent and Lease Detail (RALD) and Forms of Return/Request for Information (FORs/RFIs) to collect evidence for the Non-Domestic Revaluation 2026.
If you have a query about your case or any VOA services, the best way to get in touch or find the information is through the VOA Contact Form (GOV.UK).
To understand why your property has a certain rateable value view how business rates are calculated (GOV.UK).