While revaluations are intended to ensure assessments reflect current market conditions, they can also create significant changes in liabilities and introduce new challenges for occupiers managing property portfolios.
England and Wales Continue to Diverge
Although rateable values are assessed by the Valuation Office Agency, the business rates systems in England and Wales are increasingly operating under different rules. Multipliers, relief schemes and compliance obligations now vary considerably, creating additional complexity for businesses with properties on both sides of the border.
Understanding these differences has become increasingly important, particularly as both jurisdictions move towards more frequent three-yearly revaluations.
A New Era for Retail, Hospitality and Leisure
One of the most significant changes introduced in 2026 is the move towards permanent lower multipliers for qualifying retail, hospitality and leisure properties in England. This marks a shift away from the temporary relief measures that have supported businesses in recent years and provides greater certainty for many operators.
However, the approach in Wales differs significantly. Separate multiplier structures and sector eligibility rules mean businesses cannot assume that the same arrangements apply across both jurisdictions. For organisations with cross-border portfolios, understanding these distinctions is essential.
Some Sectors Face Significant Increases
The 2026 revaluation has produced a mixed picture across different sectors. Strong trading performance and sustained demand in certain markets have contributed to substantial increases in rateable values.
Hotels and hospitality businesses have experienced some of the largest movements, with strong post-pandemic recovery feeding into assessments. Airports have also seen considerable increases, while the licensed leisure sector continues to present a varied picture depending on location and trading performance.
Given the complexity of many assessments, specialist advice can play an important role in ensuring valuations accurately reflect individual circumstances.
New Compliance Requirements Are Emerging
Alongside changes in values and liabilities, businesses are facing a changing compliance environment.
In Wales, a statutory Duty to Notify came into force on 1 April 2026, requiring ratepayers to report certain property changes within specified timescales. Meanwhile, England is piloting its own framework ahead of a wider rollout.
As governments move towards more dynamic rating systems, occupiers will need to become increasingly proactive in managing their assessments and reporting obligations.
Download Our Full Guide
The 2026 revaluation presents both opportunities and challenges for ratepayers. Understanding how the changes affect your organisation is key to ensuring liabilities are managed effectively.
Our latest Business Rates – 2026 Rating List guide provides a more detailed examination of the changes affecting England and Wales, including sector-specific commentary, multiplier structures and the evolving compliance landscape.
Download our 2026 Revaluation Guide or speak to our specialist team to discuss your property portfolio.
