Revaluation
What is revaluation?
Revaluation is a review of the rateable values of all non-domestic properties in England and Wales carried out by the Valuation Office Agency (VOA). This normally happens every 3 years.
Business rates
How do you value a property?
The VOA values a property by its rateable value. The VOA values a property by its rateable value. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2026 valuation, that date was 1 April 2024.
How is my rateable value calculated?
The rateable value is based on how much rent a property could be let for, on a set date (1 April 2024 for revaluation 2026).
In order to calculate the rateable value, the VOA analyses the rental property market to ensure that rateable values reflect the property market accurately.
What is the valuation date for revaluation 2026?
The Antecedent Valuation Date for revaluation 2026 is 1 April 2024.
How is my business rates bill calculated?
We calculate business rates bills using a rateable value. Rateable values are based on how much rent a customer’s property could be let for, on a set date (1 April 2024 for revaluation 2026).
Who do I contact if my rateable value is too high?
Before 1 April 2023, Welsh businesses should use the Find a Business Rates Valuation Service on GOV.UK to tell the VOA they think their rateable value is too high.
From 1 April 2026, customers will need to use a business rates valuation account to tell the VOA they think their rateable value is too high.
Businesses must continue to make payments of their business rates as normal. If they do overpay, they can request a refund from their local council.
Who do I contact if my property has changed?
Before 1 April 2026, Welsh businesses should use the Find a Business Rates Valuation Service on GOV.UK to tell the VOA about changes to their property details such as floor area sizes and parking.
After 1 April 2026, to tell the VOA about changes to their property details, customers need a Business Rates Valuation Account.
The VOA may accept their changes and update the current and future valuations.
Why do similar properties have different rateable values?
When calculating a rateable value, the VOA considers how much a property could be let for, on a set date. The rateable value of properties can vary for a number of reasons like size or location.