2023 Rates Revaluation

Appeal My Rates UK

What happened to rates in April 2023?

A revaluation took place leading up to April 2023 and all properties on the rating list had their rateable values changed. This was done by the Valuation Office Agency (VOA) which is a branch of HMRC. They value properties based on rental evidence collected during the years leading up to revaluation. The last revaluation took place in 2017 and 2010 before that. They were supposed to take place every 5 years but this has now been reduced to 3 years to better reflect the changing rental markets.

Why have some rates gone up but others have gone down?

The date set as the benchmark for this revaluation was in 2021, which was right in the middle of Covid. This had a big impact on rental values in the retail and hospitality sectors but did not affect the industrial and office sector rents as much. So most shops, pubs, gyms etc saw their rates go down whereas most offices and factories etc saw them go up – some by large percentages.

Can I challenge the current new rates?

Yes. If you have a case you can submit a challenge via the VOA`s check challenge process but we would always advise that you seek advice first as rates can go up as well as down if you challenge them. Contact us for a free appraisal and if you have a case we will propose a contract with success fees related to savings in rates payable.

Can I challenge the old rates in the 2017 list?

Only if you had already submitted a check proposal before 31 March 2023. After that date the list was closed and cannot be altered with a new proposal.