When business rates revaluations happen and how this affects your business rates.
The amount of money you have to pay for business rates is worked out based on your business property's rateable value and a business rates multiplier. The rateable value is your property's open market rental value on a specific date.
To help make sure the rating system is fair, valuations of all business properties are from time to time updated with changes in the rental market.
Revaluation for 2026
A new rateable value list will come into effect from 1 April, based on the rental value of properties on 1 April 2024.
You can see what the rateable value for your property will be on the find a business rates valuation service on the GOV.UK website.
How to challenge the your rateable value
Rateable Values are set by the Valuation Office Agency (VOA). The Valuation Office Agency is a central government body who are independent of us.
If you think your rateable value is too high, you can challenge your property's valuation by using their business rates valuation account service on the GOV.UK website.
Once you have signed up, you can challenge or report changes that may affect your property's rateable value (such as floor area sizes and parking).
You must continue to pay your business rates as normal, until a decision has been made.
Current multipliers
For the 12 months from 1 April 2025 to 31 March 2026, the multipliers are:
- Standard non-domestic rating multiplier £0.555
- Small business non-domestic rating multiplier £0.499
In the year of revaluation, the multipliers are re-based to take account of overall changes to rateable value and to make sure that revaluation does not raise extra money for the government.
Changes to business rates multipliers from April 2026
From April the current multipliers (small business and standard) will be replaced with five multipliers that reflect both property use and the rateable value. The multipliers are:
- Retail, hospitality and leisure use
- Non-retail, hospitality and leisure use
A higher multiplier will apply to high-value properties with a rateable value of £500,000 or more.
Multipliers from 1 April 2026
| Rateable value | Retail, hospitality and leisure multiplier | Non-retail, hospitality and leisure multiplier |
|---|---|---|
| Less than £51,000 | 0.382 | 0.432 |
| Between £51,000 to £499,999 | 0.43 | 0.48 |
| £500,000 or more |
0.508 |
|
Please visit our Business Rate changes for 2026/27 page for more information about all the changes.
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