Business rates revaluation 2023
On 1 April 2023, the next revaluation of properties for business rates will take effect, placing new rateable values on more than 2.1M properties across England and Wales.
The final report of the Government’s Review of Business Rates announced that the frequency of revaluations would be increased to 3-yearly starting in 2023
The Government delayed the revaluation so that property valuations could be calculated by reference to emerging post COVID-19 rents that were being paid.
The move to 3-yearly revaluations from 2026 should make the system fairer and more responsive for all ratepayers, meaning bills will more closely reflect current rental values. With the volume of transactions falling between 65% to 70% during the pandemic, the 2023 revaluation is likely to be the most subjective revaluation yet.
In this guide we cover:
The timeline of events for the 2023 revaluation
Key impacts of the revaluation
Ending appeal rights on 2017 ratable lists
Transitional relief system
Estimated multipliers for 2023/24
Resources
Latest insights
Mar 19, 2024
Effects of autumn statement 2023 and spring budget 2024 on business rates in England
