Business rates
Revaluation
At revaluation, the Valuation Office Agency (VOA) updates the rateable value of business properties to reflect changes in the property market.
The most recent revaluation came into effect in England and Wales on 1 April 2023. It was based on the cost to rent a property for a year on 1 April 2021.
The next revaluation will come into effect in England and Wales on 1 April 2026. It will be based on the cost to rent a property for a year on 1 April 2024.
You can use the VOA’s online service to:
- find out what your rateable value will be from 1 April 2026
- estimate your business rates bill for the 2026 to 2027 tax year
Business rates are handled differently if your property is in Scotland or your property is in Northern Ireland.
What happens at revaluation
At revaluation:
- all properties are given a new rateable value
- multipliers (standard and small business) are revised
This means that a change in your rateable value does not always mean a change in your bill.
To make sure your valuations are accurate, the VOA may ask you for rent and lease details for your property.
If you think your new rateable value is wrong
You will be able to challenge your new rateable value from 1 April 2026.
You can use your business rates valuation account to tell the VOA if your property’s details need changing at any time.
Get business rates relief
You may be able to get a discount from your local council if you’re eligible for business rates relief.
For example you may be able to get: