Business rates revaluation and new multipliers from April 2026.
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.
The VOA have provided a tool kit for ratepayers to get an estimate of what their business rates bill might be from 1 April 2026. This is only intended to give an indication of your business rates bill and may not consider any relief you might be eligible for.
You can get an estimate by accessing the link below.
New multipliers
At the Budget on 26 November 2025, the Government announced the following:
From 1 April 2026, subject to regulations, new multipliers will apply as follows:
- A small business multiplier of 43.2p for properties with a rateable value of less than £51,000.
- A standard multiplier of 48.0p for properties with a rateable value of £51,000 or more.
- A small business, retail, hospitality and leisure (RHL) multiplier of 38.2p for retail hospitality and leisure businesses with a rateable value of less than £51,000.
- A standard retail, hospitality and leisure (RHL) multiplier of 43.0p for retail hospitality and leisure businesses with a rateable value of £51,000 or more.
- A high value multiplier of 50.8p for businesses with a rateable value of £500,000 or more.
The definition of a retail, hospitality and leisure business for the purposes of the above multipliers, can be found by accessing the link below.
Business rates multiplier guidance
Transitional relief
Transitional relief would be provided to support ratepayers facing large increases following the revaluation of their business premises for up to three years.
For properties where transitional relief or Supporting Small Business Relief is not applicable, for one year, a supplement of 1p will be charged to partially fund the transitional relief scheme.
Supporting small business relief
Supporting Small Business (SSB) Relief will provide support to businesses losing some or all their entitlement to either small business rate relief because of the revaluation, or losing their retail, hospitality and leisure relief.
The amount will be capped at the higher of £800 or the relevant transitional relief caps from 1st April 2026.
The scheme will operate for three years with the current SSB scheme applicable until 31st March 2026, being extended for a further one-year term.
Only occupied premises will be in scope for the scheme with charities and community amateur sports clubs not being eligible.
Electric vehicle charging points relief
A ten-year 100% relief scheme for eligible Electric Vehicle Charging Points (EVCPs) separately assessed by the VOA and Electric Vehicle only forecourts, to ensure no Business Rates liability.
Small business rate relief on additional properties
An extension of the small business rate relief provisions that currently permit an eligible business to acquire a further property without loss of entitlement for a period of one year, to three years.