Business rates, made clearer.

1. What are business rates?

Business rates are a property-based tax charged on most non-domestic properties. In England and Wales, the Valuation Office assesses most properties for rating purposes and local authorities issue bills.

2. What is a rateable value?

Rateable value is not your rates bill. It is the valuation figure used as the starting point for calculating liability. For the 2026 revaluation, the Valuation Office says the values are based on rental values at 1 April 2024.

3. How is the bill calculated?

Broadly, the rateable value is multiplied by the relevant annual multiplier, after which reliefs and other adjustments can affect the final amount due. The exact calculation varies by jurisdiction and property circumstances.

4. What changed in 2026?

New rateable values took effect on 1 April 2026. England also introduced lower RHL multipliers for qualifying retail, hospitality and leisure properties below £500,000 RV, as well as a high-value multiplier for properties at £500,000 RV and above.

5. What if the property details are wrong?

If the information used by the Valuation Office is wrong, a Check case can be used to raise property-detail corrections. A Check is also required before a current valuation can normally be challenged.

6. What if the valuation is wrong?

After the Check stage, a Challenge can be submitted where there are valid grounds and supporting evidence. If the Challenge outcome remains disputed, a further appeal to the Valuation Tribunal may be available in the circumstances set out by the official guidance.

7. What about reliefs?

Reliefs and exemptions generally affect the bill rather than the underlying valuation. They are commonly administered by local authorities, so valuation and billing issues need to be separated.

8. When is professional advice useful?

Professional support can be helpful where the property is complex, the valuation movement is material, comparable evidence needs analysis, the case has procedural history, or a portfolio contains multiple assessments requiring consistent oversight.