A nationwide revaluation of business rates will take effect from 1 April 2026, resetting rateable values to reflect the property market at 1 April 2024.
Revaluations are revenue neutral at a national level — meaning the overall tax take remains broadly unchanged.
The Treasury has already revealed to The Morning Advertiser that it intends to set lower multipliers for pubs in the Autumn Budget.
Ryan said from April 2026, the Government will introduce a supplementary multiplier of up to 10p on properties with a rateable value above £500,000 — estimated to affect 17,000 properties nationwide.
Reduced multipliers
This measure is designed to fund permanently reduced multipliers for retail, hospitality and leisure premises under the £500,000 value.
Ryan said this will transfer the £1.38bn annual cost of current high street discounts from the Exchequer onto larger ratepayers.
However, the tax company also said total business rates yield rises in line with inflation. Each September, the Consumer Prices Index (CPI) sets the increase for the following financial year.
The Bank of England now forecasts CPI at 4% in September 2025, up from a previous estimate of 3.75% and 3.8% in the 12 months to July 2025. That increase alone would add £1.11bn to the business rates burden in England, according to Ryan.
Overall, businesses in England could be facing a £2.5bn hike in property taxes from April 2026, it said.
Redistribution exercise
Alex Probyn, practice leader of property tax, Europe and Asia-Pacific, Ryan said: “The 2026 revaluation itself is a redistribution exercise, but when you layer on both inflation and the new supplementary multiplier, businesses are left staring down the barrel of an unavoidable double hit.
“Larger occupiers in particular will shoulder a disproportionate burden. With the UK already having the highest property taxes in the developed world, this £2.5 billion increase risks undermining the UK’s competitiveness at a critical time for the economy.”
The 2026 revaluation, including the final level of the multipliers, will be confirmed in the 2025 Autumn Budget, ahead of bills landing during the following spring.
Business rates are devolved to Scotland, Wales and Northern Ireland.
