Business rates - Frequently asked questions

Revaluation is the term used to describe the regular review of rateable values for all non-domestic property in England and Wales.

Revaluation takes account of any changes in the rental market and redistributes the total amount of business rates paid between different properties to reflect those changes.

Business rates are charged on most non-domestic properties. Properties like:

• shops
• offices
• pubs
• warehouses
• factories
• holiday rental homes or guest houses
• beach huts
• stables.

You’ll probably have to pay business rates if you use a building, part of a building or land for non-domestic purposes.

The Valuation Office Agency (VOA) values a property by its rateable value. Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2026 revaluation, that date was 1 April 2024.

To calculate the rateable value, the VOA analyses the rental property market to ensure that rateable values reflect the property market accurately.

Legally, it’s not possible to challenge your future valuation until 1 April 2026, which is the date the 2026 rating list takes effect.

It is still possible to let the VOA know that the details they hold about your property are factually wrong by raising a Check against your 2023 valuation. You can do this through your business rates valuation account.

You can also compare your property’s rateable value with similar properties in the area and check how the valuation was calculated. The VOA have improved how we display this information to make it easier for you to understand how we worked out your property’s rateable value.

The revaluation date for 2026 is 1 April 2024. The Government sets the valuation date which is usually two years before a revaluation to allow time for data collection and analysis.

Business rates bills are calculated using a rateable value and considers multipliers set by the Welsh Government alongside any relief schemes.

You are now able to see your future rateable value for your property and get an estimate of what your business rates bill may be from 1 April 2026.

You can do this through the VOA’s find a business rates valuation service on GOV.UK.

If a property has changed, for example its floor sizes are different, then you can let the VOA know using a business rates valuation account. There is information explaining how to set up a business rates valuation account on GOV.UK.

If a customer believes their future rateable value is too high, they can get in touch with the VOA using a business rates valuation account. While you can't challenge your 2026 valuation until 1 April, you can let us know the details we hold about your property are wrong by raising a Check against your 2023 valuation.

Any changes made to your 2023 valuation could result in your rateable value going up or down, and this may also affect your future valuation from 1 April 2026.

You must continue to pay your business rates as normal until a decision has been made on your case. If you are due a refund when your case is resolved this will be calculated and issued by your local council.

You have until 31 March 2026 to request any changes to your 2023 rateable value using your business rates valuation account. After 1 April 2026 you will only be able to make changes to your new valuation.

When calculating a rateable value, the VOA considers how much a property could be let for, on a set date. The rateable value of properties can vary for a number of reasons like size or location.

There are several types of business rates relief for customers. you can find further information on gov.wales.

Some reliefs are applied automatically and some you need to apply for. You should never have to pay anyone to apply for a relief.

If you want to authorise an agent to act on your behalf, then you can appoint one using a business rates valuation account.