From 1 April 2026, all non-domestic properties in England and Wales face updated rateable values following a revaluation by the Valuation Office Agency (VOA), based on market conditions as of 1 April 2024. This triennial process ensures business rates align with current property values, with bills calculated by multiplying the rateable value by applicable multipliers before applying reliefs.

New Tiered Multipliers

The government has replaced the previous two multipliers with five, introducing lower rates for retail, hospitality, and leisure (RHL) properties to succeed the expiring RHL relief. Eligibility for RHL multipliers requires the property to be occupied, open to the public, and used mainly for retail, hospitality, or leisure with a rateable value under £500,000.

• Small Business (Non-RHL): Below £51,000 RV – 43.2p
• Small Business RHL: Below £51,000 RV – 38.2p
• Standard (Non-RHL): £51,000–£499,999 RV – 48.0p
• Standard RHL: £51,000–£499,999 RV – 43.0p
• High-Value: £500,000+ RV – 50.8p

A 1p supplement applies for one year to non-recipients of transitional relief or supporting schemes to fund the £3.2 billion transitional package.

Transitional Relief and Small Business Support

To cushion bill increases, a three-year transitional relief scheme caps annual rises:

• Up to £28,000 RV: 5% (2026/27), 10% + inflation (2027/28), 25% + inflation (2028/29)
• £28,001–£100,000 RV: 15%, 25% + inflation, 40% + inflation
• Over £100,000 RV: 30%, 25% + inflation, 25% + inflation

The expanded Supporting Small Business Relief (SSBR) caps increases at £800 or the transitional cap for firms losing prior reliefs, including a one-year extension of 2023 SSBR and a three-year grace period for Small Business Rates Relief.

Sector-Specific Boosts

Eligible pubs and live music venues gain 15% relief on 2026/27 bills, saving an average pub £1,650, followed by a real-terms freeze for two years. Additionally, 100% relief for 10 years covers electric vehicle charging points and EV-only forecourts, assessed separately by the VOA.

These changes, stemming from the Autumn Budget 2025, seek to bolster small businesses and high streets amid economic pressures, though larger properties face higher multipliers.