2026 Rating List

The government has published the new Rating List which will come into effect on 1 April 2026.

The last time the Rating List was revised was in 2023 and this List is the first in the new triennial cycle.

When linked to the Uniform Business Rate (set by central government) a Rateable Value (RV) determines the amount of business rates occupiers have to pay to the local authority each year.  The RV is supposed to represent how much a business property would let for on the market at the valuation date – the current date is April 2021 whereas the new date will be April 2024.  The new RVs are therefore deemed to represent the change in rental levels over this three year period.   

In general changes in RVs are not as great as has been the case at previous revaluations. However prime retail premises are seeing uplifts (and so increased rates liability) although, interestingly, a number of larger properties (e.g. M&S in Buttermarket Bury St Edmunds) are seeing reductions in RV.  Some out of town retail RVs are also generally increasing, for example Sainsburys RV rises to £1.65m.  The trend for industrial and office premises is similar with modest hikes in RV being experienced.

In the Budget last week the Chancellor did, however, announce a new uniform business rate regime.  This is far more complex than the existing basis, bringing in numerous multipliers and the abolition of the previous retail/hospitality/leisure relief.  Properties with RVs above £500,000 are going to be paying more.

An increase in RVs may give rise to an occupier paying rates for the first time, where previously the occupier may have benefitted from Small Business Rate Relief.

Merrifields urge business owners and rate payers to check their new Rateable Value(s) at https://www.tax.service.gov.uk/business-rates-find/search.  Merrifields can provide advice on the listing(s) and submit appeals against new Rateable Values in due course if deemed appropriate to do so.

Merrifields are regulated by the RICS, we recommend that any firm you appoint to review your rates are regulated by the RICS, beware of rating scams.