Business rates
Revaluation
At revaluation, the Valuation Office (VO) 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 2026. It’s based on open market rental values from 1 April 2024.
You can use the VO’s online service to find your current and past rateable values.
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 VO may ask you for rent and lease details for your property.
If you think your new rateable value is wrong, you can challenge your rateable value or report changes to your property.
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: