30th September 2025 - James Burkitt

In this article, we outline the key milestones ahead for what promises to be an important year of change for business rates liabilities.

The next business rates revaluation will take effect on 1 April 2026, based on rental values as at 1 April 2024. The Draft 2026 Rating List is expected around late November 2025 / early December 2025, likely timed to coincide with the Autumn Budget announcement - providing ratepayers with their first look at their new Rateable Values (RVs).

2026 Revaluation: What to Expect

Initial market indicators suggest average RV movements could be:

• Retail: down by around 1–3%
• Offices: up by approximately 5–10%
• Industrial / Logistics: up by around 25–30%

Please note there will be locations which have bucked this trend and business rates liabilities will largely depend on the multipliers and reliefs applied. A lower multiplier will apply to retail properties, while a higher multiplier will apply to properties with an RV of £500,000 or greater. The exact figures will be confirmed in the Autumn Budget.

Some key considerations to come from the Transforming Business Rates : Interim Report is a proposed 'sliced' approach for calculating business rates liability (i.e. similar to how income tax is calculated) and, for Small Business Rates relief, the potential removal of the condition to have only one commercial property.

Once the multipliers and reliefs are confirmed and Draft 2026 Rating List published, we will be able to advise on your specific business rates liability from 1 April 2026 onwards.

2023 Rating List: Appeals Still Open

The current Rating List, based on rental values as at 1 April 2021, remains in effect until 31 March 2026. This means there is still time to appeal existing valuations if you believe they are inaccurate.

Appeal Timelines: What to Expect

Current timescales for the appeal process are typically:

• Checks (fact verification): resolved within 1–6 months
• Challenges (valuation disputes): progressing within 6–12 months after submission

Note that these timescales are often extended due to increased workloads at the Valuation Office Agency (VOA) and a growing number of appeals. Many clients will soon have appeals active across the 2017, 2023, and 2026 Rating Lists.

Although the appeal process can take time, any reductions achieved are backdated, with bills recalculated and, where applicable, refunds issued by your Local Authority.

Why Act Now

With the 2026 revaluation on the horizon and the appeal window still open for the current list, now is the time to review your business rates position from 1 April 2023 to 31 March 2029.

How We Can Help

As part of a comprehensive business rates review, we:

• Inspect each property
• Review leases and relevant rental evidence
• Assess comparable properties in the Rating Lists
• Guide you through the Check, Challenge, Appeal (CCA) process
• Advise on the most effective strategy to minimise your business rates liabilities

Get in Touch

If you would like to understand what the 2026 revaluation and current appeal opportunities mean for your property, please get in touch.