Understanding how the 2026 Revaluation affects your property is essential to managing risk, planning ahead and identifying opportunities to appeal your current business rates liabilities.
Business Rates have changed…
The 2026 Business Rates Revaluation marks the most significant change to the business rates system since it was introduced in 1990.
As of 1st April 2026, commercial ratepayers across England and Wales will see their business rates recalculated to reflect rental values as of 1st April 2024.
Alongside the reset of rateable values, the revaluation has introduced a new tiered multiplier system and changes to relief schemes, reshaping liabilities for property owners and tenants. For many businesses, this will result in significant changes to their rates payable.
What we will see in the 2026 Revaluation:
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Rating list based on 2024 commercial rental values
The Valuation Office Agency (VOA) base assessments on a property as if placed back on the market. Throughout the 2026 rating list, rateable values for commercial properties are based on 2024 market rental values, with ratepayers looking at an overall RV increase of 19%, up from 7.2% in the current 2023 rating list – A difference of 163%.
Businesses classed as ‘Other’ have been hit the hardest, as they look at an overall average increase across England and Wales of 29%, an increase of 522% from 2021 rental values.
Introduction of a multi-tiered multiplier system
In the previous 2023 rating list, all properties sat within two multipliers:
- Small Business Multiplier: £0.499p – RV up to £51,000
- Standard Business Multiplier: £0.555p – RV £51,000 and over
Now, the multipliers have changed for the 2026 rating list including the introduction of three further multipliers; the Small Business RHL, Standard Business RHL and Large Business Multiplier (see opposite for more information).
This is the first time that multipliers specifically for RHL properties have been implemented, replacing the previous RHL Relief.
Discontinuation of Retail, Hospitality & Leisure (RHL) Relief
The government will no longer continue with RHL Relief, with the discontinuation of the scheme which begins 1st April 2026. Instead, eligible properties will receive support through the Small and Standard RHL Multipliers, equating to an average of just 11% in support – down from the current 40%.
This will be the largest decrease in support since RHL Relief was introduced in 2019/20.
Pub and Music Venue Discount
Due to pressure from ratepayers, trading bodies and MPs in the wake of the Autumn Budget, pubs and music venues will now receive a 15% discount and a two-year freeze on their business rates.
This discount equates to an average saving of £1,560 on liabilities, with three-quarters of pubs expected to see the rates fall or remain unchanged.
Total support package to be offered worth £4.3 billion
To assist businesses who are seeing a large increase in Rateable Values, several reliefs will be available with a total value of £4.3 billion over the next three years.
A redesigned Transitional Relief Scheme worth £3.2 billion will be available to ratepayers facing large bill increases. However, a 1p supplement will be applied to ratepayers who do not receive Transitional Relief to partially fund it. This will be for one year from 1st April.
Small businesses who have lost their Small Business Rates Relief (SBRR) or Rural Rates Relief will see bills increase by no more than £800 or increase above the Transitional Relief cap (whichever is greater). This has also been expanded to any ratepayers who have lost RHL Relief.
Any business that expands into a second property in the 2026 rating list will now remain eligible to receive SBRR for up to three years on their first property.
Set at a 10-year period, all EV Charging points and Forecourts will be eligible for 100% relief to ensure they face no business rates liability as the Government push for more electric vehicles on England’s streets.
Duty to Notify
Duty to Notify has been in place since the beginning of the 2023 rating list, but The VOA will now be rolling out a formal Duty to Notify plan that is to be piloted, starting with commercial ratepayers who own or tenant a single property (i.e., shop) with an aim of mandatory implementation for all properties by April 1st 2029.
Information the VOA will require for the new Duty to Notify will include:
- Mandatory annual returns of occupier and lease information.
- Establishing Online portals for managing property data and appeals.
- Changes to the property including characteristics, tenancy, use of property.
- Trade and accounts information
Removal of the Check stage
Check Challenge Appeal, the three-stage process in which commercial property owners and tenants can appeal their business rates will see a major reform with the removal of the Check stage. With the formal and mandatory Duty to Notify from April 1st 2029, this will substitute the Check Stage.
A 3 month window from the start of the 2029 revaluation will also be introduced for commercial ratepayers to submit a Challenge which is said to:
- Allow the VOA to take a more structured approach to process Challenges within 18 months.
- Allow the VOA to group together the Challenges on similar properties and deal as joint batches.
What RVA Surveyors can do for you.
Our four simple steps…
We’ve designed our service to be simple and hassle-free, taking the stress away from the complex and convoluted world of business rates. Our specialist support teams and expert surveyors take care of the entire process, with minimum operational involvement from the clients.
See how we’ve achieved reductions for our clients on the case studies page…
Don’t lose out on your savings.
Speak to one of our specialists today to start the savings process!
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