Information on business rates revaluation, including when revaluations are carried out and how this affects your business rates.
What a revaluation is
Business rates are worked out based on your property's rateable value. This is the open market rental value from a given date. Rateable values are then used to calculate your business rates bill alongside the national multiplier for the year.
All rateable values are reassessed at a general revaluation to make sure that bills paid by any one ratepayer reflect changes over time in the value of their property relative to others.
This helps maintain fairness in the rating system by updating valuations in line with changes in the rental market.
The most recent revaluation came into effect on 1 April 2017, and is based on rateable values from 1 April 2015.
In the year of revaluation, the multipliers are re-based to take account of overall changes to rateable value and to make sure that revaluation does not raise extra money for the government.
For the 12 months from 1 April 2022 to 31 March 2023, the multipliers are:
- Standard non-domestic rating multiplier £0.512
- Small business non-domestic rating multiplier £0.499
You can find and check your business rates valuation on the GOV.UK website. You can also estimate your business rates bill, including any small business rate relief we may apply.