2026 revaluation and multipliers
The Valuation Office Agency (VOA) periodically updates the rateable values of business and other non-domestic properties through a process known as revaluation.
This ensures that business rates bills reflect changes in the property market and are based on up-to-date rental evidence.
A rateable value represents the estimated annual rent a property could have been let for on a specified valuation date.
2026 revaluation
The current revaluation is the 2023 rating list, based on rental values as at 1 April 2021, and has been used to calculate business rates bills since 1 April 2023.
The next revaluation will take effect from 1 April 2026.
Visit the VOA's find a business rates valuation service to view your 2026 business rates valuation.
New 2026 multipliers
Once a property’s rateable value has been set at revaluation, it is used to calculate the business rates bill by applying a multiplier.
The multiplier is a pence-in-the-pound figure set by government each year, which converts the rateable value into a basic rates liability. Different multipliers apply depending on a property’s rateable value and type of use, and these can be adjusted through reliefs or support schemes.
This approach ensures that business rates are linked both to property market values and wider economic policy decisions.
From 1 April 2026, the existing annual Retail, Hospitality and Leisure (RHL) Relief will be replaced by permanently lower multipliers for qualifying properties, providing greater long-term certainty.
- Two lower multipliers apply to eligible properties with rateable values below £500,000.
- A higher multiplier applies to eligible properties with rateable values of £500,000 or more, including large distribution centres and online retailers.
- Business rates bills will continue to be calculated by multiplying the rateable value by the relevant multiplier, with any applicable reliefs then applied.
There are different multipliers for different types and sizes of business and for 2026 - 2027 a 1p (penny) surcharge will be added to all multipliers:
| Multiplier type | Applies to | New multiplier amount | Transitional surcharge - a 1p surcharge will be added to your multiplier for 2026 - 2027 only, meaning the below figure will be used to calculate your bill. |
| Small business retail, hospitality and leisure multiplier | Retail, hospitality & leisure businesses with a rateable value over £51,000 | 38.2p | 39.2p |
| Small business non-retail, hospitality and leisure multiplier | Non-retail, hospitality & leisure businesses with a rateable value over £51,000 | 43.2p | 44.2p |
| Standard retail, hospitality and leisure multiplier | Retail, hospitality & leisure businesses with a rateable value between £51,000 - £499,999 | 43p | 44p |
| Standard non-retail, hospitality and leisure multiplier | Non-retail, hospitality & leisure businesses with a rateable value between £51,000 - £499,999 | 48p | 49p |
| Large property multiplier | All properties with rateable value above or equal to £500,000 | 50.8p | 51.8p |
If you think your multiplier is wrong in your 2026-2027 bill, please complete our online form.
Legislative safeguards
The Non-Domestic Rating (Multipliers and Private Schools) Act introduces statutory limits, including:
- The large property multiplier cannot exceed the standard multiplier by more than 10p.
- Retail, hospitality and leisure multipliers cannot be more than 20p lower than the small business multiplier.
