Pubs and fair maintainable trade
Pubs are usually valued using fair maintainable trade (FMT) — an estimate of the reasonable turnover a competent operator could achieve at the property, not necessarily what the current operator actually takes. The Valuation Office applies a percentage of FMT to arrive at the rateable value.
For the first time since 1995, no valuation scheme for pubs was agreed with the trade ahead of the 2026 list — a point the Treasury's own call for evidence acknowledges. That's part of why pub operators have found the 2026 figures harder to reconcile with their own accounts than in past revaluations.
See also:
what evidence a challenge needs and business rates for pubs.We're a bar owner's information site, not a surveyor. If you send this form, we may pass your details to a RICS-regulated rating firm we work with, who will contact you. They would pay us if you instruct them. You can check your valuation yourself free on the Valuation Office's service. No one can guarantee a reduction.