Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 November 2024 to Question 13640 on Hospitality Industry and Retail Trade: Business Rates, when she plans to (a) begin and (b) complete the revaluation that is to produce the referenced revaluation outcomes.

In 2023 the Valuation Office Agency (VOA) moved to three-yearly revaluations, an outcome from the 2021 Business Rates Review.

The VOA started preparing for the next business rates revaluation in April 2023, with the new rateable values coming into effect on 1 April 2026, with a valuation date of 1 April 2024.

The VOA are on track to deliver the 2026 Revaluation, with valuation activity now underway.