The 2026 business rates revaluation: key facts
- The 2026 revaluation came into effect in England and Wales on 1 April 2026.
- New rateable values are based on open-market rental values at 1 April 2024 (the antecedent valuation date, or AVD).
- In England for 2026/27 there are five multipliers, from 38.2p (small retail, hospitality and leisure) to 50.8p (rateable value £500,000 or more).
- Supporting small business relief limits rises to £800 or a percentage cap, whichever is greater, for people who lost some or all of certain reliefs.
- Further changes to multipliers and reliefs were announced at the Budget on 28 October 2026, due from 1 April 2027.
- You can check and challenge your new rateable value free through a business rates valuation account, or a rating surveyor can do it for you.
What is the 2026 business rates revaluation?
The 2026 revaluation is the regular reset of rateable values for business property in England and Wales. From 1 April 2026 every property has a new rateable value based on the open-market rent it could have let for on 1 April 2024, and these values form the 2026 rating list.
Your rateable value (RV) is the Valuation Office Agency's estimate of the yearly rent your property could have let for on a fixed date, called the antecedent valuation date (AVD). It is not your actual rent and it is not your bill. The council turns it into a bill using a multiplier and then takes off any reliefs.
The dates for the last two revaluations are:
| Rating list | In effect from | Values based on rents at (AVD) |
|---|---|---|
| 2023 list | 1 April 2023 | 1 April 2021 |
| 2026 list | 1 April 2026 | 1 April 2024 |
Revaluations now take place every three years. At each one the multipliers are also revised, so a change in your rateable value doesn't always mean the same change in your bill.
Why did my rateable value change in 2026?
Because the 2026 list reflects the rental market at 1 April 2024 rather than 1 April 2021. Where rents for your type of property and area rose between those dates, your value is likely to have gone up; where they fell, it may have gone down.
The change in your value mostly reflects how rents (or, for some property types, trade) for properties like yours moved between April 2021 and April 2024.
Pubs are a clear example. They are valued on the trade a reasonably efficient operator could achieve rather than on rents, and the VOA says 2023 pub values were much lower because of COVID, with the 2026 increases reflecting the recovery in trade since 2021.
A change can also come from the VOA holding different details for your property, such as floor area, use or features. If those details are wrong, the value may be wrong too.
What are the business rates multipliers for 2026/27?
In England for 2026/27 there are five multipliers: 38.2p and 43p for qualifying retail, hospitality and leisure (RHL) properties, 43.2p and 48p for other properties, and 50.8p for any property with a rateable value of £500,000 or more.
| Property (England, 2026/27) | Rateable value under £51,000 | £51,000 to £499,999 | £500,000 or more |
|---|---|---|---|
| Retail, hospitality or leisure (RHL) | 38.2p | 43p | 50.8p |
| All other properties | 43.2p (small business multiplier) | 48p (standard) |
For comparison, the standard and small business multipliers were 55.5p and 49.9p in 2025/26. The City of London has its own multipliers.
What counts as retail, hospitality and leisure?
The RHL multipliers replace the RHL relief that ran in 2025/26. Examples include shops, restaurants, cafes, bars, pubs, cinemas, music venues, gyms, spas and hotels; the exact definition is in regulations. If you got RHL relief in 2025/26 you will usually qualify, but check with your council.
You use the small business multiplier if your rateable value is under £51,000, even if you don't get small business rate relief.
How is a 2026/27 business rates bill worked out?
Multiply your rateable value by the right multiplier for 2026/27, then take off any reliefs you are entitled to. The result before reliefs is your full annual liability; reliefs such as transitional relief can then bring it down.
- Find your new rateable value on the VOA's online service.
- Pick the multiplier from the table above, based on your value and whether your property counts as retail, hospitality or leisure.
- Multiply the two together to get the yearly amount before relief.
- Take off any reliefs. Your council works these out and shows them on the bill.
Worked examples (England, before reliefs)
| Property | Sum | Yearly rates before relief |
|---|---|---|
| Shop, RV £30,000 (RHL) | £30,000 × 0.382 | £11,460 |
| Office, RV £30,000 (not RHL) | £30,000 × 0.432 | £12,960 |
| Restaurant, RV £60,000 (RHL) | £60,000 × 0.43 | £25,800 |
| Warehouse, RV £60,000 (not RHL) | £60,000 × 0.48 | £28,800 |
| Any property, RV £600,000 | £600,000 × 0.508 | £304,800 |
The same value can give quite different bills depending on the business, so the category matters as much as the value.
What protects me from a big rise after the revaluation?
In England, transitional relief caps how much a bill can rise each year because of the revaluation, and supporting small business relief limits rises for people who lost certain reliefs. Qualifying pubs and live music venues also get 15% off in 2026/27.
Transitional relief
Transitional relief phases in rises caused by the 2026 revaluation, and your council applies it automatically. The yearly caps are:
| Rateable value | 2026/27 | 2027/28 | 2028/29 |
|---|---|---|---|
| Up to £20,000 (£28,000 in London) | 5% | 10% plus inflation | 25% plus inflation |
| £20,001 to £100,000 (£28,001 in London) | 15% | 25% plus inflation | 40% plus inflation |
| Over £100,000 | 30% | 25% plus inflation | 25% plus inflation |
Supporting small business relief
This helps if your bill went up at the revaluation and you lost some or all of your small business rate relief, rural rate relief, retail, hospitality and leisure relief or 2023 supporting small business relief. For 2026/27 your bill can go up by no more than £800 or a percentage cap, whichever is greater, compared with your 2025/26 bill after those reliefs. The caps are 5% (RV up to £20,000, or £28,000 in London), 15% (up to £100,000) and 30% (over £100,000).
GOV.UK's own example is a gift shop whose 2025/26 bill after 40% retail relief was £4,491. With a new RV of £20,000, 5% of £4,491 is £225, which is less than £800, so the 2026/27 bill is capped at £4,491 + £800 = £5,291.
Small business rate relief and pubs relief
Small business rate relief in England still gives 100% relief where the RV is £12,000 or less, tapering to nothing at £15,000. Qualifying pubs and live music venues get 15% off their 2026/27 bill, which can be combined with transitional relief or supporting small business relief. Ask your council if you think a relief is missing.
What changes to business rates are due from April 2027?
New multipliers and relief changes for England were announced at the Budget on 28 October 2026, due to take effect from 1 April 2027, subject to regulations. They include higher multipliers and a bigger pubs relief.
| England multiplier | 2026/27 | 2027/28 (announced) |
|---|---|---|
| Small business RHL | 38.2p | 39.5p |
| Standard RHL | 43p | 44.5p |
| Small business | 43.2p | 44.7p |
| Standard | 48p | 49.7p |
| High value (£500,000+) | 50.8p | 52.5p |
Also announced at the Budget on 28 October 2026, due from 1 April 2027:
- Small business rate relief for RHL properties: full relief up to an RV of £18,000, tapering to £21,000, until 31 March 2029.
- Pubs and live music venues: relief rises from 15% to 35% for 2027/28 and 2028/29 (staying at 15% for live music venues with an RV of £1 million or more).
- Real-terms freeze: bills for qualifying RHL properties, pubs and live music venues capped by CPI inflation in 2027/28 and 2028/29. This does not cover rises from improvements or losing other reliefs, and properties empty on 1 April can't qualify that year.
- Vape shops lose small business rate relief and the RHL multipliers; adult gaming centres lose the RHL multipliers.
Using the announced figures, the £30,000 shop above would be £30,000 × 0.395 = £11,850 before relief in 2027/28. The CPI cap could hold the actual bill lower.
How is the 2026 revaluation different in Wales?
Wales had the same revaluation, in effect from 1 April 2026 and based on values at 1 April 2024, but it uses its own multipliers and reliefs. For 2026/27 these are 0.350 for small-to-medium retail shops, 0.502 standard and 0.515 for properties with an RV above £100,000.
- Multipliers 2026/27: retail 0.350 (small-to-medium retail shops with an RV below £51,000), standard 0.502, higher 0.515 (RV above £100,000). For example, a qualifying shop with an RV of £30,000 would pay £30,000 × 0.350 = £10,500 before relief.
- Small business rates relief: 100% up to an RV of £6,000, tapering to nothing at £12,000, for up to two properties per business in each council area.
- Food and Drink Hospitality Rates Relief: 15% for pubs, restaurants, cafes, bars and live music venues in 2026/27, capped at £110,000 per business across Wales.
- Duty to notify: from 1 April 2026 you must tell the council within 60 days when you become the ratepayer or when the property becomes occupied or empty. Failing to do so can mean a £500 fine.
- Appeals go to the Valuation Tribunal for Wales.
What should I do about my new rateable value?
Find your 2026 rateable value, check the details the VOA holds, compare it with similar properties, and if something looks wrong raise a check and then a challenge within the time limits. Ask your council separately about reliefs.
- Find your new value. Use the VOA's online service, or set up a free business rates valuation account on GOV.UK and add your property.
- Check the details. Look at floor area, use, parking and features such as air conditioning. Gather plans, photos and your lease.
- Compare. Use "Find a business rates valuation" to look at similar properties nearby: location, age, size and use.
- Raise a check. This corrects factual details, and you must raise one before any challenge, even if the facts are right.
- Challenge if needed. Usually within 4 months of the check decision (16 months from the check if it's about a change in the area, such as roadworks). Include your evidence, a statement and the value you think is right. The value can go up, down or stay the same.
- Check your reliefs. Reliefs and the RHL multipliers are handled by your council, not the VOA. Keep paying your bill while any case is ongoing.
You can do all of this yourself for free. Some owners use a rating surveyor because it saves time, because surveyors know how to build the evidence and which comparable properties matter, and because they keep track of the deadlines. There is no guarantee that a value will change either way.
Related guides
The 2026 business rates revaluation: frequently asked questions
When did the 2026 business rates revaluation take effect?
It came into effect in England and Wales on 1 April 2026. The new rateable values are based on open-market rental values at 1 April 2024.
What does AVD 1 April 2024 mean?
AVD stands for antecedent valuation date. Every rateable value in the 2026 rating list is the estimated yearly rent the property could have let for on 1 April 2024, even though the list runs from 1 April 2026.
My rateable value went up. Will my bill go up by the same amount?
Not necessarily. The multipliers were also changed at the revaluation, and reliefs such as transitional relief can cap the increase. Multiply your new value by the right 2026/27 multiplier, then take off reliefs to see the likely effect.
Which multiplier applies to my business in 2026/27?
In England, qualifying retail, hospitality and leisure properties use 38.2p or 43p, others 43.2p or 48p, and any property with a value of £500,000 or more 50.8p. Your council decides which applies.
What is the £800 rule in supporting small business relief?
If you lost some or all of certain reliefs and your bill rose at the revaluation, your 2026/27 bill can go up by no more than £800 or a percentage cap, whichever is greater, compared with your 2025/26 bill after reliefs.
Can I challenge my 2026 rateable value?
Yes. Set up a business rates valuation account, raise a check to confirm or correct the details, then raise a challenge if you think the value is wrong. You can do it yourself free, or appoint an agent such as a rating surveyor.
How long do I have to challenge after a check?
Usually 4 months from the check decision. If it is about a change in the surrounding area, such as roadworks, it is 16 months from submitting the check, and you can also challenge if there is no check decision after 12 months.
What changes from April 2027?
Announced at the Budget on 28 October 2026 and due from 1 April 2027: new multipliers, pubs and live music venues relief rising to 35%, a CPI cap on bills for qualifying retail, hospitality and leisure properties, and higher small business rate relief thresholds for those properties. These are subject to regulations.
Sources
We checked the facts on this page against these official sources on 10 November 2026: