News

 

 

The 5 new Multipliers announced yesterday are as follows:

 

Small (RV below £51,000) Retail, Hospitality and Leisure = 38.2p

Standard Retail, Hospitality and Leisure = 43p

Small (RV below £51,000) standard = 43.2p

Standard 48p

High (RV above £500,000) = 50.8p

 

Business rates Transitional Relief – To support ratepayers facing large bill increases at the revaluation the government is introducing a redesigned Transitional Relief scheme worth £3.2 billion over the next three years, providing more generous support for those paying higher tax rates. The Transitional Relief caps will be as follows for properties with a rateable value of:

 

• Up to £20,000 (£28,000 in London): in 2026-27 – 5%, in 2027-28 – 10% (plus inflation), in 2028-29 – 25% (plus inflation).
• £20,001 (£28,001 in London) to £100,000: in 2026-27 – 15%, in 2027-28 – 25% (plus inflation), in 2028-29 – 40% (plus inflation).
• Over £100,000: in 2026-27 – 30%, in 2027-28 – 25% (plus inflation), in 2028-29 – 25% (plus inflation).

 

Business rates Transitional Relief Supplement – The government is introducing a 1p supplement to the relevant tax rate for ratepayers who do not receive Transitional Relief or the Supporting Small Business scheme to partially fund Transitional Relief. This will apply for one year from 1 April 2026.

 

Business rates 2026 Supporting Small Business scheme – Bill increases for the smallest businesses losing some or all of their small business rates relief or rural rate relief will be capped at the higher of £800 or the relevant transitional relief caps from 1 April 2026. Note, support is applied before changes in other reliefs and local supplements.

 

Business rates: Extension of the SBRR grace period – The government is extending the Small Business Rates Relief (SBRR) grace period from one to three years. This means businesses will now remain eligible for SBRR on their first property for three years after expanding into a second property. Businesses expanding after Budget day will be eligible.

 

Business rates 100% relief for eligible electric vehicle charging points and electric vehicle only forecourts – The government is introducing a 10-year 100% business rates relief for EVCPs separately assessed by the Valuation Office Agency and electric vehicle only forecourts to ensure that they face no business rates liability.

 

Luke says: “In addition to yesterday's announcement, the 2026 Drafting Rating List has also now been published. So far, we have seen increases in offices and industrial, with a mixed picture for retail. Some small offices in London have seen a 50% increase in Rateable Value.”

 

For more information and to discuss what this means for you, please contact Luke Longley