Business Rates: Valuation
The question
To ask the Chancellor of the Exchequer, what steps her Department is taking to help support businesses experiencing financial stress that are awaiting a non‑domestic rates revaluation; and what the average time frame is for rates revaluations on non-domestic rates.
Answered by Dan Tomlinson
Every three years the Valuation Office Agency carries out a revaluation of non-domestic properties. The 2026 revaluation is due to come into effect on 1 April 2026, based on values from 1 April 2024.
In recognition of the impact of the revaluation on bills, the Government introduced a support package worth £4.3 billion, to protect ratepayers seeing their bills increase. The Government is introducing new permanently lower multipliers for eligible retail, hospitality and leisure properties. These new multipliers are worth nearly £1 billion per year and will benefit over 750,000 properties.
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