Key information:
- Revaluations are conducted by the Valuation Office Agency (VOA) every three years.
- The Autumn budget 2025 will confirm exact rates for each multiplier.
- The second legislation will then will define retail, hospitality & leisure (RHL) eligibility, likely aligned with current RHL relief rules.
- This will then come into effect on 1 April 2026.
- You must report any errors in your current property valuation by 31 March 2026.
- Local councils calculate bills by multiplying the rateable value by a multiplier, then applying any reliefs.
New multipliers:
- Two new lower multipliers will apply to RHL properties with rateable values (RVs) below £500,000. These replace the annual RHL relief, offering long-term certainty.
- A higher multiplier will apply to all properties with RVs of £500,000 and above, targeting large distribution centres and online retailers.
| Multiplier type | Applies to |
|---|---|
| Small businesss RHL multiplier | Retail, hospitality & leisure (RHL) with RV over £51,000 |
| Small business non-RHL multiplier | Non-RHL business with RV over £51,000 |
| Standard RHL multiplier | RHL business with RV £51,000-£499,999 |
| Standard non-RHL multiplier | Non-RHL business with RV £51,000-£499,999 |
| Large property multiplier | All properties with RV above or equal to £500,000 |
Legislative safeguards
The Non-Domestic Rating (Multipliers and Private Schools) Bill introduces limits:
- Large property multiplier: Can’t exceed the standard multiplier by more than 10p.
- RHL multipliers: Can’t be more than 20p lower than the small business multiplier.
Any additional information you can visit either the Valuation Office Agency website, the Gov.uk website, or the HM Treasury website.