New rating list from 1 April 2026
The 2026 revaluation took effect on 1 April 2026. Every non domestic property in England has a new rateable value, based on rental values as at 1 April 2024, replacing values based on April 2021.
That two year gap between valuation date and the list coming into force is normal, and it is why your new rateable value reflects a rental market that has already moved on.
Five multipliers instead of two
This is the structural change and it is the part most coverage has missed. England has moved from two multipliers to five for 2026/27:
Small business retail, hospitality and leisure: 38.2p. Standard retail, hospitality and leisure: 43.0p. Small business: 43.2p. Standard: 48.0p. High value, for properties with a rateable value of £500,000 or more: 50.8p.
The permanently lower retail, hospitality and leisure multipliers replace the annual relief that had been extended year by year since the pandemic. That is a real improvement in one respect: RHL businesses can now plan, instead of waiting each autumn to find out whether the relief survives another Budget.
The high value multiplier is new, and it is how the lower RHL rates are being funded. Large properties pay more so smaller ones pay less.
What to do if your bill has jumped
Check your rateable value on the VOA website. It is public, free, and you can see the valuation for your property and for comparable ones nearby. A surprising number of businesses have never looked.
If it looks wrong, you can challenge it, but understand the process. It runs Check, then Challenge, then Appeal, and there are deadlines at each stage. Do not pay someone a large fee to tell you what you can check yourself in ten minutes.
Be wary of the rating agents who cold call after every revaluation promising refunds. Some are legitimate. Many charge substantial fees on speculative challenges that go nowhere, and some ask for money up front.
Transitional relief caps how much your bill can rise in one year, so a large increase in rateable value does not all land at once.
Common questions
Do I get small business rate relief?
If your property has a rateable value under £12,000 you generally pay nothing, and there is tapered relief up to £15,000. It usually applies where you occupy only one property.
Does this apply outside England?
No. The multipliers above are for England. Wales, Scotland and Northern Ireland set their own, and the packages differ.
Figures are for 2026/27 in England, from the multipliers published for the revaluation. Business rates are a specialist area and a rating surveyor is the right person for a valuation dispute. If you want to understand what it does to your accounts, get in touch.