Rethinking Your Business Rates Strategy

For the first time, occupiers can see their future Rateable Values well before the new list goes live on 1 April 2026, giving businesses time to think rather than react at a moment when property costs are firmly under the microscope. This is a chance to rethink business rates as part of wider real estate strategy, not just a line on the bill.

Multipliers will shape outcomes

One of the important changes is the role of multipliers, the figure applied to the Rateable Value of a building to calculate the final rates bill. From April 2026, multipliers vary more clearly by property type and size, with larger assets facing materially higher rates. In practice, two occupiers with similar Rateable Value movements could see very different outcomes depending on use, scale and location.

When we look at portfolios through this lens, we can help occupiers understand where those multipliers will bite hardest, and where there may be room to adjust strategy.

Relief is more selective

Relief also becomes more selective. Not all properties will benefit from transitional arrangements and, where relief does not apply, an additional penny in the pound takes effect immediately. For some occupiers, that creates more direct exposure from day one of the new list and reinforces the value of understanding how reliefs (or their absence) impact individual assets.

For London-based occupiers, the picture is more layered, with Crossrail and City of London supplements in play. These can appear modest in isolation, but together they can materially influence the true cost of occupation and should be factored into location and other key real estate decisions. We see growing value in modelling these elements early, rather than treating them as a footnote at heads of terms.

Timing matters

Timing is another important consideration. The current 2023 Rating List closes on 31 March 2026, after which the opportunity to challenge existing assessments is lost. Alongside this, the shift towards greater reporting and compliance within the rating system points to a more active, ongoing relationship with business rates.

We encourage occupiers to view this as a window: a chance to tidy up today’s position while also preparing for tomorrow’s requirements.

A more strategic view of business rates

All of this reinforces a broader point: business rates are becoming a more strategic part of real estate decision-making. Understanding future liabilities can support better choices around space, location, lease events and portfolio composition, not just budgeting.

At Corep, we focus on protecting occupier interests across all real estate decisions, making sure property strategy supports wider business objectives. Where specialist business rates advice is required, we partner with Foreview to help occupiers understand their exposure, navigate the revaluation and act with confidence.

The draft list gives occupiers time. The value lies in how we choose to use it.