Practical guide for landlords to prepare for current Rating List closure in March 2026.
This practical guide helps landlords, asset managers, and occupiers manage their liabilities effectively before the current Rating List closes on 31st March 2026.
The 2023 Rating List ends on 31 March 2026, with the new 2026 List starting on 1 April 2026. After this, you’ll lose the chance to challenge your 2023 Rateable Value or your current rates liability. Act now to ensure your property’s footprint, tenancy details, and eligible reliefs are accurately reflected. This practical guide helps landlords, asset managers, and occupiers manage their liabilities effectively before the current Rating List closes.
What’s Happening
- The chance to review the level of your current liability will soon close.
- The revaluation is effective from 1st April 2026.
- Rateable values for the 2026 Rating List will be based on rental evidence from 1 April 2024.
- Liabilities will be determined by both new rating multipliers – possibly including a new, differentiated “high-value” multiplier, and Transitional Relief.
Key Actions to Take by 31st March 2026
You can login to your Valuation Office Agency account, where you can review the VOA’s valuation and flag errors before the end of the List. Errors in your valuation can be reviewed under the Check Challenge Appeal (CCA) process.
1. Confirm the factual details of your property
Log on to the VOA website and review everything: floor areas, lease terms, service-charges, alterations, use and occupancy. If beneficial, correct any inaccuracies now.
Why it matters: You are currently not under an obligation to notify the VOA of any errors but even small errors in VOA data can materially inflate your rateable value. Getting these fixed before the end of the list can reduce your liability to as far back as April 2023.
2. Review leases and occupancy
Check subleases, vacant portions, breaks, refits or improvements. Document any material changes in condition or use.
Why it matters: The VOA relies heavily on actual usage. Changes in occupancy or improvements may alter liability and can also create opportunities for relief if reported properly.
3. Confirm reliefs and discounts
Regardless of the accuracy of your Rateable Value, you could be eligible for one or several reliefs, reducing the level of your liability. Check your eligibility for small business rates relief, retail/hospitality/leisure relief, or improvement relief.
Why it matters: Reliefs can soften sharp increases in liability. Missing out could mean paying significantly more than is necessary.
Planning Ahead
1. Build future scenario models: Model liabilities under a range of factors including: the VOA’s Draft and Compiled List Rateable Values, new multiplier levels, or the impact of new policies such as a high-value multiplier.
Why it matters: Scenario models give boards and investors clear visibility of potential risk and exposure. They also provide a strong basis for rent-review discussions or tenant negotiations.
2. Plan budgets and cashflow: Update forecasts to reflect potential outcomes. Factor in payment schedules and likely transitional relief caps.
Why it matters: Financial planning cycles are already underway. Without accurate forecasts, sudden bill increases could destabilise P&L and disrupt cashflow.
3. Get 2026 appeal-ready: Start gathering evidence of comparable rents, lease terms, occupancy, and costs. Plan resources for possible 2026 CCA activity.
Why it matters: Appeals are most effective when evidence is organised and available. Early preparation reduces the cost and time of disputes once the Rating List is live.
Pitfalls to Avoid
- Assuming the rateable value is the final bill: multipliers, reliefs and transitional caps all affect the outcome.
- Overlooking recent property changes. Improvements, tenant movements or use changes may not yet be reflected in VOA valuations.
- Underestimating policy changes. Government has signalled reforms such as a high-value multiplier that could increase liabilities for larger properties.
- Delaying evidence gathering. Since 2023, the length of each Rating List will be only three years. The window of opportunity to correct errors is only as long as the length of the List. It is crucial to compile evidence and submit a CCA as soon as possible.
Dates to Watch
- Now – March 2026: Register on to the VOA website, review your property data, gather evidence, start scenario modelling.
- Late 2025 (Nov–Dec): Draft 2026 rateable values published. Review closely, update forecasts, and prepare CCA’s.
- 1 April 2026: The new Rating List becomes effective, with new multipliers, reliefs and regulations confirmed.
What Landlords Should Be Discussing with Tenants
- Share early estimates of new rateable values and likely bills.
- Consider lease adjustments such as turnover rents, caps or service-charge allocations to spread risk.
- Time buildings improvements carefully and keep accurate construction records to increase the likelihood that your property will qualify for relief.
- Open dialogue around risk-sharing, especially for high-value properties which are most exposed to policy adjustments.
Conclusion
The clock is ticking towards the end of the 2023 Rating List, and the window of opportunity to question your current Rateable Value and rates liability will close on 31 March 2026. You must submit your Checks and apply for your reliefs before this date.
Those who act now (auditing data, reviewing leases, modelling outcomes and preparing appeals) will be better positioned when the new Rating List becomes effective on 1st April 2026.
For both landlords and occupiers, strategic planning and adequate preparation over the next few months will determine whether the revaluation is managed smoothly or brings unwelcome shocks.
Please contact us for a free appraisal of your situation, and to find out how much you could save.
