2026 Business Rates Revaluation- Have Your Rates Increased?

The 2026 Business Rates Revaluation is now in force, and thousands of businesses across England have received new Rateable Values. While some have seen reductions, many have experienced significant increases in their business rates liability.

If your new Rateable Value seems higher than expected, it is important to remember that it is not necessarily final. Where there are genuine grounds, the valuation can be challenged.

Why Has My Rateable Value Changed?

Every few years the Valuation Office Agency (VOA) carries out a national revaluation of non-domestic properties to ensure Rateable Values better reflect changes in the property market.

The 2026 Rating List is based on the rental value your property could reasonably have achieved on 1 April 2024. This means your current business performance, turnover or financial circumstances are not taken into account. Instead, the valuation is based on the open market rental value of the property at that date.

As property markets vary significantly across the country, some businesses have benefited from lower assessments, whilst others have seen substantial increases.

How Do I Know If My Rateable Value Is Too High?

A higher Rateable Value does not automatically mean it is incorrect. However, there are many circumstances where a property may have been over-assessed.

Common issues include:

• Incorrect floor areas or measurements.

• Areas that have been incorrectly categorised.

• Offices or ancillary accommodation valued too highly.

• Mezzanine floors that should receive a lower assessment.

• Poor quality, ageing or obsolete buildings.

• Lack of heating, air conditioning or other building services where these have been assumed.

• Inferior specification compared with competing properties.

• Market rental evidence indicating a lower value.

• Changes in the local property market that have not been fully reflected.

Many business owners understandably assume the VOA has inspected every property individually. In reality, valuations are produced using large amounts of market evidence and standard valuation schemes. Whilst these are generally robust, they are not immune from error.

What Is the Check, Challenge, Appeal Process?

Business Rates appeals in England are dealt with through the statutory Check, Challenge, Appeal (CCA) process.

The process broadly consists of three stages:

Check

The property's factual details are reviewed to ensure the VOA's records are accurate. This includes matters such as floor areas, layout, use and other physical characteristics.

Challenge

Where there are reasonable grounds to dispute the valuation, a formal Challenge can be submitted. This is supported by market rental evidence, comparable properties and detailed valuation analysis explaining why a different Rateable Value is appropriate.

Appeal

If agreement cannot be reached during the Challenge stage, it may be possible to progress the matter to the Valuation Tribunal for England, where an independent tribunal considers the evidence.

Not every case progresses through every stage, and each property is assessed on its own merits.

How We Assess Your Property

At Waverly & Knight Surveyors, every case begins with a detailed review of the premises.

Our assessment may include:

• Reviewing the VOA's property record.

• Analysing comparable rental evidence.

• Comparing your property with similar premises in the local market.

• Considering the quality, age and specification of the building.

• Reviewing plans and measurements where available.

• Identifying any factual inaccuracies or valuation issues.

Is It Worth Challenging?

Every property is different.

Some Rateable Values accurately reflect the market and are unlikely to change. Others may contain factual inaccuracies or be higher than the available rental evidence supports.

A professional review can often identify whether there is a realistic prospect of achieving a reduction before time and expense are incurred pursuing an appeal.

Speak to a Specialist

Business rates valuation is a specialist area of property surveying.

Waverly & Knight Surveyors focuses exclusively on business rates and has helped businesses across England identify potential savings by reviewing their Rateable Values against current market evidence.

If you would like an independent assessment of your 2026 Rateable Value, our team would be pleased to carry out an initial review and advise whether there appear to be reasonable grounds to challenge your assessment.

Request your free initial review today and find out whether your Rateable Value could be reduced.