5 essential things you need to know about the 2026 business rates revaluation
What is the purpose of the 2026 Rates Revaluation?
To rebase the rates valuation (Rateable Value) for every commercial property based on a 1st April 2024 valuation date compared to 1st April 2021 for the current rating list. These new valuations then run for a 3 year cycle from 1st April 2026.
Simultaneously the tax rate (multiplier) is also rebased to ensure the government collect the same amount in tax plus an inflationary rise.
Tell me what has happened to Rateable Values?
The total rateable value pool is to increase to £84.4 billion compared with £70.8 billion on the 2023 rating list. This represents an increase across England and Wales of 19.2%.
This can be broken down by sector as follows:
Percentage change in rateable value between 2023 and 2026 rating lists by sector, England and Wales.
This can be broken down by sector as follows:
Percentage change in rateable value between 2023 and 2026 rating lists by sector, England and Wales.
And further broken down regionally by sector as follows:
What about Multipliers?
Multipliers have fallen across the board, which is a positive and will soften the blow for many with an increased Ratable Value. There is additional complexity with the introduction of 5 rather than 2 multipliers.
Multiplier Changes – England
Revaluation 2026
| Country | Criteria | Current Rate Year | Upcoming Rate Year |
|---|---|---|---|
| England | RV Band | 2025/26 | 2026/27 |
| Small Multiplier | <£50,999 | 49.9p | 43.2p |
| Standard Multiplier | £51,000-£499,999 | 55.5p | 48.0p |
| Crossrail Supplement (London) | £75,000+ (23 List) £92,000+ (26 List) | 2.0p | 2.0p |
| NEW RHL Small Multiplier | <£50,999 | – | 38.2p |
| NEW RHL Standard Multiplier | £51,000-£499,999 | – | 43.0p |
| NEW Large Multiplier | >£500,000+ | – | 50.8p |
| NEW Transitional Relief Supplement | – | – | 1.0p |
| Retail Relief | £110,000 subsidy cap per entity | 40% | Replaced with RHL multipliers |
*RHL – Retail, Hospitality and Leisure
Were any other notable measures announced?
- Supporting Small Business Scheme – those losing small business rates relief will see their rates bill capped at an increase of the higher of £800 or the transitional relief % limit.
- Small Business Rates Relief – those that take on a second property will keep SBRR on their first property for 3 years rather than 1 year.
- 100% relief for EV Charging points and forecourts for a 10 year period where they are separately assessed.
Are any increases in liability phased by Transitional Relief?
The increase in rates liability on each property is capped, depending on the size of Rateable Value and location. The transitional relief scheme compares a ratepayer’s base liability in 2025/26 with the notional charge created by the new multipliers.
All properties which don’t benefit from the transitional relief “cap” will be charged an extra 1p in the £1 on their multiplier to fund those in receipt of transitional relief.
| Upwards Caps | 26-27 | 27-28 | 28-29 |
|---|---|---|---|
| Small RV (<£20,000*) | 5% | 10% | 25% |
| Medium RV (£20,000* to £100,000) | 15% | 25% | 40% |
| Large RV (>£100,000) | 30% | 25% | 25% |
*£28,000 in Greater London
What next?
- For our client base ForeView is already undertaking a review of 2026 Rateable Values and liabilities and are preparing to provide strategic appeal advice.
- Alongside this we are also ensuring that all necessary appeal action is taken under the 2023 Rating List before the appeal deadline of 31st March 2026.
- For those we are not advising we would happy to provide more detailed insight on what the Revaluation means for your property or portfolio and examine where there maybe scope to seek savings in this cost over the period 2026 to 2029.
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