Business Rates revaluation 2026
The Valuation Office Agency (VOA) has contacted businesses to obtain rental information to support the next revaluation of business rates in England and Wales – Revaluation 2026.
The current rating list came into force on 1 April 2023. The 2023 rating list will be superseded on 1 April 2026 by a new rating list, the 2026 List. This list will set the rateable values for the next 3-year rating period, April 2026 – March 2029.
The Draft 2026 List should be available in early December 2025. The rateable values in the 2026 list are based on rental values on 1 April 2024 (the antecedent date).
If you believe your rateable value is incorrect or want to discuss the valuation further please contact the Valuation Office Agency via the following methods:
- by telephone on 03000 501501
- use their online contact form
- Visit the government website
Business Rates reform 2026
At the budget 2024, government announced its intention to introduce two lower multipliers for Retail, Hospitality and Leisure (RHL) properties with rateable values (RVs) below £500,000. These will commence from April 2026 and give long-term certainty and support to the high street.
Government has set out its intention for these two new lower rates to be funded sustainably. To enable this, the government also intends to introduce a higher multiplier for all properties with RVs of £500,000 and above.
Multiplier structure from 2026-27
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Current system (2025-26) |
New system (2026-27 onward) |
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Small business multiplier, all properties, RV below £51,000 |
Small business RHL multiplier RHL properties only, RV below £51,000 |
Small business multiplier, non-RHL properties, RV below £51,000 |
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Standard multiplier, all properties, RV £51,000 and above |
Standard RHL multiplier, RHL properties only RV £51,000 - £499,999 |
Standard multiplier, non-RHL properties, RV £51,000 - £499,999 |
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High-value multiplier, all properties, RV £500,000 and above |
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The rates for the new multipliers will be announced at budget 2025, taking account of the revaluation due in 2026.
Transitional Relief Scheme
The 2023 revaluation saw some considerable increases in bills for some ratepayers and the government, as usual after each revaluation, introduced a transitional relief scheme whereby increases in bills have been phased in over three years.
Properties subject to large increases in rateable value because of the revaluation benefited from the Transitional Relief Scheme. The scheme is designed to limit the impact of the rateable value changes. There is no requirement to apply for this relief, new bills are adjusted for the award automatically, if applicable. Unlike previous Transitional Relief schemes, those properties where the rateable value reduced benefited from the full reduction from the start of the Rating List (1 April 2023).
No information has been released yet to confirm whether a similar scheme will be put in place for the 2026 List.