Business Rates Revaluation 2026: What Small Business Owners Need to Check Now

Business rates bills changed shape from 1 April 2026, and many small business owners still haven't checked whether they're paying the right amount — or claiming the relief they're entitled to.

What changed

England's business rates system moved from two multipliers to five distinct multipliers for 2026/27, based on property type, use and rateable value. For most small businesses, the headline change is that the Small Business Non-Domestic Rating multiplier fell to 43.2p, down from a previous rate of 49.9p, while the standard multiplier for mid-sized properties dropped to 43.0p from 55.5p.

Alongside the multiplier changes, the Chancellor announced a £4.3 billion support package in the November 2025 Budget, including:

• A redesigned Transitional Relief scheme worth £3.2 billion, phasing in bill increases over three years — capped at 5% for 2026/27 for properties up to £28,000 rateable value, rising to 10% plus inflation in 2027/28 and 25% plus inflation in 2028/29.
• A Supporting Small Business scheme, protecting businesses that lost some or all of their Small Business Rates Relief, Rural Rate Relief or Retail, Hospitality and Leisure relief as a result of the revaluation — capping any resulting bill increase at the higher of £800 a year or the relevant transitional cap.

Checklist: what to check now

• Look up your new rateable value via the VOA's Find a Business Rates Valuation service — this is the figure your bill is based on from April 2026.
• Confirm which multiplier applies to your property type — the shift from two to five multipliers means some property categories now sit in different bands than before.
• Check if you've lost any relief you previously had (Small Business Rates Relief, Rural Rate Relief, or the old Retail, Hospitality and Leisure relief) — if so, you may qualify for the new Supporting Small Business scheme protection.
• Verify your Transitional Relief is being applied correctly on your latest bill — this should happen automatically via your local authority, but errors do occur.
• If you think your rateable value is wrong, you can challenge it through the VOA's Check, Challenge, Appeal process — do this promptly, as it can take months.
• Talk to your local council's business rates team if you're unsure which relief applies — eligibility rules vary by property use and location.

International comparison

Commercial property tax systems work differently abroad. In the US, most commercial property tax is set locally by county or municipal assessors rather than a national multiplier system, according to the Lincoln Institute of Land Policy. Australia applies state-based land tax and council rates to commercial property, administered separately by each state revenue office.

Key Numbers

• 43.2p new Small Business multiplier from April 2026, down from 49.9p
• £4.3 billion support package over five years
• 5% cap on 2026/27 bill increases under Transitional Relief (up to £28,000 RV)

Sources

• Business Rates Revaluation 2026 | What UK Businesses Need to Know — rradar
• Business rates: the 2026 revaluation — House of Commons Library

Educational content only — not financial advice.