Business Rates Revaluation 2026: Are You Ready?

The countdown to the next Rating Revaluation is well underway. With significant changes on the horizon, now is the time to ensure all relevant actions are taken to manage and mitigate your business rates liability.

WHAT Actions SHOULD YOU Take?

• Challenge Your Valuation: In England and Wales, the deadline to initiate an appeal is 31 March 2026. If you haven’t started the process, it’s not too late.
• Apply for Reliefs and Discounts: Ensure you’ve claimed all applicable reliefs based on your property’s use, occupancy status, and other qualifying criteria.
• Accrue for Potential Liabilities: The Valuation Office Agency (VOA) may reassess properties that are under- or unassessed, potentially backdating liabilities to 1 April 2023. Have you accounted for this in your financial planning?

What should you be thinking about? 

Looking ahead to the April 2026 Rating Revaluation, businesses should begin assessing potential impacts and preparing accordingly:

• Rateable Value (RV) Adjustments: The Revaluation will reset RVs and the rate multiplier (currently 55.5p/£RV for large properties in England).
• Market Movements: Early market analysis suggests significant shifts in values across regions and sectors. Stay informed and assess how these changes may affect your portfolio.
• Legislative Changes: The Autumn Budget is expected to confirm the 2026 multiplier. Notably, new legislation allows:
  • Up to 20% increase for properties valued at £500,000+
  • Up to 40% discount for Retail, Hospitality, and Leisure properties below this threshold

ARE YOU AWARE OF?

While revised RVs won’t be published until late 2025 and formal challenges can’t begin until April 2026, preparatory work can start now:

• Begin Forecasting: Model potential liabilities for 2026 and beyond, factoring in regional and sector-specific trends.
• Initiate Early Reviews: Early engagement can unlock cashflow benefits and position you ahead of the traditional rating timeline.
• Duty to Notify: Set to be introduced in the 2029 Rating List, this will require ratepayers to report notifiable changes (e.g., new lease, building extension) within strict timeframe and submit an annual return to the VOA. Although implementation is a few years away, businesses should begin preparing for the administrative and compliance implications now.

How can we help?

Despite ongoing calls for reform, the business rates system remains complex and costly, particularly for occupiers of high-value, multi-site portfolios. Proactive planning is essential to managing liabilities and mitigating risk.

If you’re looking for expert advice on how to navigate the upcoming Rating Revaluation, the Montagu Evans Rating team is here to help.

Looking for more information on the 2026 Revaluation? Explore our Business Rates Revaluation: 2026 Handbook.