The 2026 Business Rates Revaluation is one of the most significant changes to commercial property taxation in recent years. If your business occupies non-domestic premises in England or Wales, this revaluation will directly affect what you pay, and understanding it now puts you in a far stronger position than waiting until the bill arrives.
What Is the 2026 Revaluation?
Every few years, the Valuation Office Agency (VOA) carries out a nationwide reassessment of all non-domestic properties in England and Wales. The purpose is to update the rateable values used to calculate business rates, ensuring they more accurately reflect current market conditions.
The 2026 revaluation takes effect on 1 April 2026 and will set the basis for business rates liabilities throughout the 2026 to 2029 rating period. Rateable values will now be based on rental evidence as at 1 April 2024, replacing the figures currently derived from 2021 market data.
Contact My Tax Broker today for a no-obligation review of your business rates position ahead of the 2026 revaluation.
It is important to understand that the revaluation is not designed to increase the overall amount of business rates collected nationally. What it does is redistribute the tax burden – some businesses will see their bills rise, others will see them fall, depending on how rental values in their sector and location have moved since the last assessment.
The Headline Numbers
The overall picture across England is significant:
- Total rateable values are expected to increase by approximately 19% nationally, though this varies considerably by region
- London is forecast to experience some of the steepest rises, with average increases exceeding 20%
- Industrial and logistics properties are among the hardest hit, with rateable value increases averaging between 20% and 25% in many locations
- Retail has seen comparatively slower rental growth, with average increases closer to 10%, and in some areas, little movement at all
- Certain specialist property types – including large hotels, airports, and major leisure venues face particularly sharp uplifts
These are sector averages. Individual properties can and do diverge significantly from these figures, which is why a property-specific review is always worthwhile.
How Will Business Rates Be Calculated From April 2026?
From 1 April 2026, your business rates bill will be determined by three key factors:
1. Your new rateable value – assessed using April 2024 rental evidence
2. The multiplier applied to your rateable value: the government has confirmed that the current system of two multipliers (standard and small business) will be replaced by five separate multipliers. Lower multipliers will be applied to smaller retail, hospitality and leisure properties, while larger, higher-value premises will be subject to higher multipliers. This is a fundamental structural change and represents a deliberate shift in how the rates burden is distributed across the economy.
3. Transitional relief: to prevent businesses from facing sharp overnight increases, transitional relief schemes will phase in significant changes to bills over time.
How Different Sectors Are Affected
Retail The picture for retail is mixed. Secondary and tertiary high street locations may see relatively modest increases, whereas prime retail units and large supermarkets are more exposed – both through rising rateable values and through the higher multipliers that will apply to larger properties.
Hospitality and Leisure Smaller venues may benefit from the lower multipliers targeted at this sector, but larger destination premises – hotels, restaurants, and entertainment venues – are likely to face substantially higher costs, particularly where local rental values have recovered strongly in recent years.
Industrial and Logistics Warehouses, distribution centres, and manufacturing facilities are among the most significantly affected. Sustained demand and strong rental growth since 2015 means that many occupiers are facing a material step-change in their rateable values and, consequently, their future liabilities.
Offices Outcomes vary considerably. Prime city-centre office space may see notable increases, while regional and secondary offices are likely to experience more moderate changes, dependent on local vacancy levels and market conditions.
Why This Matters – and What You Should Do Now
A higher rateable value does not automatically translate into a proportionate increase in your rates bill. Your final liability will depend on the accuracy of your valuation, the multiplier applied to your property, and whether any reliefs or transitional arrangements are available to you.
What many businesses do not realise is that errors in rateable value assessments are common. Incorrect floor areas, misclassified uses, outdated layout assumptions, and overlooked physical factors can all result in a rateable value that is higher than it should be – and a rates bill to match.
The time to act is before the new rating list comes into force, not after. Once the 2026 list is live, challenging an incorrect valuation becomes more difficult and any overpayment made in the interim may be harder to recover.
How My Tax Broker Can Help
At My Tax Broker, we connect businesses with specialist rating surveyors and advisers who have the expertise to review your position ahead of the 2026 revaluation. Our network can assist with:
- Forecasting your future business rates liability under the new list
- Identifying errors or anomalies in your current or proposed rateable value
- Submitting formal challenges and appeals where grounds exist
- Advising on available reliefs, transitional provisions, and mitigation strategies
- Supporting businesses with multiple properties across different locations
Whether you occupy a single premises or a large portfolio, understanding your exposure now is far more cost-effective than dealing with an inflated bill later.
Contact My Tax Broker today for a no-obligation review of your business rates position ahead of the 2026 revaluation.