The 2026 Business Rates Revaluation: What Changed and Why
Written by Scott Jones, founder of CommercialPropertyKiln · Last updated
Spot something wrong? Report an error. We reply within 48 hours.
The 2026 revaluation is the biggest change to business rates in years. A new rating list took effect on 1 April 2026, covering more than two million properties in England and Wales.
What a revaluation does
The VOA periodically updates every rateable value to reflect the property market. The 2026 list reflects rental values as at the antecedent valuation date of 1 April 2024, capturing the post-pandemic recovery. Total rateable value in England rose by about 19.4% at this revaluation, so many landlords and occupiers saw their RV increase even before any change in the multiplier.
The new five-multiplier system
Alongside the revaluation, the Non-Domestic Rating (Multipliers and Private Schools) Act 2025 replaced the old two-band system with five multipliers from 1 April 2026:
- Small business (non-RHL), RV below 51,000: 43.2p
- Standard (non-RHL), RV 51,000 to 499,999: 48.0p
- Small retail, hospitality and leisure, RV below 51,000: 38.2p
- Standard retail, hospitality and leisure, RV 51,000 to 499,999: 43.0p
- High value, RV 500,000 and above (all uses): 50.8p
The full rate card and how the bands interact are set out in our 2026 multipliers guide.
What it means by sector
Industrial and logistics saw some of the sharpest rateable value rises, and most of these properties are non-RHL, so they get no benefit from the lower retail multipliers. Retail, hospitality and leisure now have permanently lower multipliers, replacing the temporary relief scheme that ended in March 2026. Large properties of any type at 500,000 rateable value or more pay the high-value multiplier of 50.8p.
Transitional relief and the 1p supplement
Transitional relief caps how fast a bill can rise after a revaluation. Separately, for 2026/27 only, a 1p supplement is added to the multiplier for ratepayers who do not receive transitional relief or Supporting Small Business relief.
What to do now
Check your new rateable value on the VOA rating list. If it looks too high against market evidence, you can challenge it: see how to appeal. Estimate the new bill with our Business Rates Calculator, and note the new duty to notify the VOA of property changes.
When did the 2026 rating list take effect?
The new rating list took effect on 1 April 2026 and reflects rental values as at 1 April 2024. Total rateable value in England rose by about 19.4% at the revaluation.
What is the 1p supplement?
For 2026/27 only, a 1p supplement is added to the multiplier for ratepayers who do not receive transitional relief or Supporting Small Business relief.