Revaluation 2026

The current Rating List is 2023, the next revaluation is due in 2026, followed by 2029.

The Valuation Office Agency (VOA) regularly updates the rateable values of all business and other non-domestic properties (properties that are not just private homes) in England and Wales.

This is called a revaluation.

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. We use these rateable values to calculate business rates bills.

Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information. The last revaluation came into effect on 1 April 2023.

Contacting the Valuation Office Agency

We are responsible for anything to do with your business rates bill. The VOA is responsible for the valuation of your property.

You will therefore need to contact the VOA for all queries about your rateable value.

Finding your rateable value

You are now able to see the future rateable value for your property and get an estimate of what your 2023/24 business rates bill may be.

You can do this through the VOA’s Find a Business Rates Valuation Service on GOV.UK.

If your property details need changing

To tell the VOA about changes to your property details (such as floor area sizes and parking) you need a business rates valuation account. The VOA may accept your changes and update the current and future valuations.

If you think your rateable value is too high

From 1 April 2026, you will need to use a business rates valuation account to tell the VOA you think your rateable value is too high.

You must continue to pay your business rates as normal until a decision has been made.

How to find the rateable value of a business property: compare it with other properties and challenge your properties rateable value if it's in Wales

From April 2026, the UK Government will introduce five new business rates multipliers. These changes are part of wider reforms to create a fairer, more modern system that supports investment and protects the high street.

What is changing?

The current system uses two multipliers based on the property rateable value:

Small business multiplier: for properties with a rateable value (RV) below £51,000.
Standard multiplier: for properties with an RV of £51,000 and above.

More details on the current multipliers can be found on the Business Rates Yearly Multipliers page. From April 2026, the system will expand to five multipliers. These will reflect both business type and property value.

The five new multipliers will apply as follows:

Small business RHL multiplier: Retail, hospitality and leisure (RHL) businesses with an RV below £51,000 of 38.2p.
Small business Non - RHL multiplier: Non - RHL businesses with an RV below £51,000 of 43p.
Standard RHL multiplier: RHL businesses with an RV between £51,000 and £499,999 of 48p
Large property multiplier: For all businesses with an RV of £500,000 and above of 50.8p

Why these changes matter

The new system is designed to support local businesses and ensure fairer contributions from larger operations:

Support for the high street: the new RHL multipliers will replace the annual RHL relief, giving businesses long-term certainty
Fairer contributions: a higher multiplier for large properties ensures major distribution centers and online retailers contribute proportionately.

Legislative safeguards

The Non-Domestic Rating (Multipliers and Private Schools) Act 2025 will limit how much the new multipliers can differ from the current rates.

The large property multiplier can't exceed the standard multiplier by more than 10p.
The RHP multipliers can't be more than 20p lower than the small business multiplier.

How we're preparing

We're reviewing our property database to determine which multiplier applies to each business. We will be contacting all rate payers in December asking them to complete an online form.