Business rates - recent changes and announcements

General Revaluation from 1 April 2026

General Revaluations are carried out by the Valuation Office (VOA) and occur every 3 years. The VOA compiles and maintains a rating list of business assessments and this shows a rateable value (RV). We use the RV to calculate the business rates payable. The new rating list is effective from1 April 2026 and is based on a valuation as of 1 April 2024.

The VOA uses several methods to determine the RV:

Rental Method: in most cases the VOA reviews the annual amount a business would pay to rent the assessment
Profits Method: In some cases, there is little rental evidence, and the VOA may review trading information to estimate a reasonable rent
Contractors Method: In some specialist cases the VOA may also look at the yearly cost of replacing property to establish a rateable value