Changes and revaluation
The Valuation Office maintains the rating list and may alter the value if they believe that the circumstances of the property have changed. The ratepayer can also appeal against the value shown in the list if they believe it is wrong.
Further information on the grounds for making an appeal, and how to make one, can be found on the Valuation Tribunal Service website or from your local valuation office.
The effect of successful appeals against values shown in the rating list will normally be backdated to the beginning of the financial year in which they are made, although there are exceptions to this.
The new rateable values are based on the rental value of properties on 1 April 2024. These will be used to calculate business rate bills from 1 April 2026.
A rise in rateable value does not necessarily mean a rise in your Business Rates bill.
If your Business Rates bill does rise significantly, you may be entitled to transitional relief.
The Government has introduced a redesigned £3.2 billion Transitional Relief scheme to limit how much a ratepayer’s bill can increase each year as a result of the revaluation.
Annual increases are capped depending on the property’s rateable value. These caps ensure that businesses facing large rises move to their full liability gradually, over several years.
Transitional Relief will be automatically applied to eligible bills.
Last updated 10 March 2026