The 2026 revaluation is part of a broader shift toward a more dynamic business rates system, but challenges remain around complexity and fairness. For property agents, the priority will be to ensure clients are well-informed, properly advised, and supported through what can often be a confusing and financially significant process.
What’s changed?
The revaluation reflects rental values as of 1 April 2024, with updated figures now used by local authorities to calculate business rates bills.
While rateable values are often confused with rental levels or actual bills, they are simply the government’s assessment of a property’s annual rental value on the open market at a fixed point in time. For agents, this distinction remains critical when advising clients:
- Rateable value ≠ rent
- Rateable value ≠ final business rates bill
Provisional figures were released in November 2025, giving businesses and agents time to prepare ahead of the new rating list coming into force.
Impact on the commercial property sector
The latest revaluation comes at a time of continued adjustment in the commercial property market, with variations expected across sectors and locations. Property agents should be prepared for:
- Shifts in liability for occupiers depending on market movements since 2024
- Increased scrutiny of valuations, particularly where trading conditions have changed
- More client queries around appeals, reliefs and payment expectations
As ever, the impact will not be uniform—some businesses may see reductions, while others face higher bills.
Check, challenge, and client support
Agents have a key role in helping clients understand and, where necessary, challenge their valuations. The UK Government has reiterated that:
- Businesses can review the data used in their valuation
- Errors can be addressed through the “Check and Challenge” process
- Only limited circumstances allow changes to previous valuations
Local authorities remain responsible for billing, so agents should also guide clients toward councils for queries on reliefs, payment plans, and transitional arrangements.
Find out about the 2026 revaluation
Structural change: VOA moves into HMRC
The revaluation also coincides with a structural shift, as the Valuation Office Agency (VOA) has now been integrated into HM Revenue and Customs (HMRC), forming a new Valuation Office function.
This change is intended to streamline processes, though agents will be watching closely to see how it affects response times, appeals handling, and access to valuation data.
Propertymark perspective
We have consistently highlighted the importance of a fair, transparent and responsive business rates system, particularly as agents support high street businesses and commercial tenants facing ongoing economic pressures.
More frequent and responsive revaluations to better reflect real-time market conditions are needed, alongside greater clarity in the valuation process to support agents and their clients. A simplified appeals system will reduce delays and administrative burden.
This latest revaluation aligns with the move to more regular updates; however, Propertymark continues to stress that the accuracy and accessibility of the system are just as important as its frequency.
