Business rates multipliers: key facts
- England's five business rates multipliers for 2026/27 are 38.2p, 43p, 43.2p, 48p and 50.8p for every £1 of rateable value.
- The two lowest (38.2p and 43p) are the retail, hospitality and leisure (RHL) multipliers, for occupied qualifying property with a rateable value under £500,000. They replaced the RHL relief that applied in 2025/26.
- Any property in England with a rateable value of £500,000 or more pays the 50.8p high-value multiplier, whatever it is used for.
- The small business multiplier applies to every property in England with a rateable value under £51,000, whether or not it gets small business rate relief.
- In England in 2026/27 most properties already in the rating list on 31 March 2026 pay an extra 1p transitional relief supplement unless they get transitional relief or supporting small business relief.
- Wales has three multipliers in 2026/27: 0.350 for smaller shops, 0.502 standard and 0.515 for rateable values above £100,000.
- Announced at the Budget on 28 October 2026, due from 1 April 2027: 39.5p, 44.5p, 44.7p, 49.7p and 52.5p in England, subject to regulations.
- The City of London adds its own premium, so City bills are worked out on different multipliers.
What is the business rates multiplier?
The multiplier is the rate of the tax. Your rateable value is multiplied by it to give the yearly charge before reliefs, so a 48p multiplier means 48p for every £1 of rateable value. It is set nationally for each year, not by your local council.
A business rates bill has two moving parts. The rateable value is the Valuation Office's estimate of the property's annual rental value, and it only changes at a revaluation or if the property or its surroundings change. The multiplier is the part that changes every year. Councils collect the money and apply the reliefs, but they don't choose the multiplier (the City of London is the one exception, covered below).
You will see the same thing called several names:
- Multiplier or business rates multiplier: the name GOV.UK uses for ratepayers.
- Non-domestic rating multiplier or non domestic rates multiplier: the legal and government name, used in official letters to councils.
- Uniform business rate (UBR): the old name, explained below.
Multipliers are written in pence (48p) on GOV.UK in England and as decimals (0.502) in Wales. They mean the same thing: 48p is 0.48 of a pound. For the full bill sum, including how reliefs are deducted, see how business rates are calculated. This page stays with the multiplier itself.
What was the uniform business rate (UBR)?
Uniform business rate is the older name for the nationally set multiplier. GOV.UK describes business rates as having been set by central government at a uniform national rate since 1990., which is where the name came from. You may still see "UBR" in older leases and service charge clauses. In practice it points to the multiplier.
The idea of one uniform rate no longer fits well. England has had separate standard and small business multipliers for many years, and since April 2026 it has five, split by rateable value and by use. Wales sets its own. If a lease or contract refers to the "uniform business rate", it may be worth checking how it handles the different multipliers, because a clause written for one rate may not say which of today's rates it means.
What is the current business rates multiplier in England?
For 2026/27 (1 April 2026 to 31 March 2027) England has five multipliers: 38.2p and 43p for qualifying retail, hospitality and leisure property, 43.2p and 48p for everything else, and 50.8p for any property with a rateable value of £500,000 or more.
| Multiplier (England 2026/27) | Rate | Who it applies to |
|---|---|---|
| Small business RHL multiplier | 38.2p | Occupied retail, hospitality or leisure property, RV under £51,000 |
| Standard RHL multiplier | 43p | Occupied retail, hospitality or leisure property, RV £51,000 to £499,999 |
| Small business multiplier | 43.2p | All other property with RV under £51,000, including empty RHL property |
| Standard multiplier | 48p | All other property with RV £51,000 to £499,999, including empty RHL property |
| High-value multiplier | 50.8p | Any property with RV £500,000 or more, occupied or empty |
The structure comes from the Budget of 26 November 2025. The government's letter to councils explains the design: the RHL multipliers sit 5p below the matching national multipliers, and that is paid for by the high-value multiplier, set 2.8p above the standard multiplier. The £51,000 line between "small" and "standard" did not move.
Three tests decide your multiplier
- Is the rateable value £500,000 or more? If so, it is 50.8p, full stop. A large department store pays the same multiplier as a large office.
- Is the property occupied and used wholly or mainly for a qualifying retail, hospitality or leisure purpose? If yes, you are on one of the RHL multipliers.
- Is the rateable value under £51,000? That decides small or standard within whichever pair applies.
Who counts as retail, hospitality or leisure for the lower multipliers?
Property used wholly or mainly for selling goods or services to visiting members of the public, selling food or drink to visiting members of the public, hotels and other visitor accommodation, or cultural, community and recreational uses. Some uses are specifically excluded, including financial, medical and professional services and betting shops.
The definition is in the Non-Domestic Rating (Definition of Qualifying Retail, Hospitality or Leisure Hereditament) Regulations 2025. GOV.UK's own examples are a shop, restaurant, cafe, bar, pub, cinema, music venue, gym, spa or hotel, and it says that if you got retail, hospitality and leisure relief in 2025/26 you will usually be eligible for the new multipliers.
Uses that can qualify
- Retail sale or hire of goods, or a service, to members of the public who visit the property.
- Selling food or drink to visiting members of the public, to eat or drink on or off the premises.
- Hotels, guest houses and boarding houses (not those giving significant nursing care), caravan parks, campsites, self-catering and holiday homes.
- Cultural, community or recreational facilities, such as live music venues, nightclubs, cinemas, theatres, libraries, museums, galleries, visitor attractions, tourist information centres and public halls.
A business that sells mostly online can still qualify if some sales or services are made in person to visiting members of the public.
Uses that are excluded, even with a shop front
- Financial services, including banks, ATMs, loans and money service businesses.
- Medical and health services, including GPs, dentists, audiology, physiotherapy, osteopathy and chiropractic, acupuncture and cosmetic surgery.
- Professional services: legal, accountancy, management consultancy, engineering, architects and surveyors, vets, and estate and letting agents.
- Betting shops, show homes, meeting and conference premises, storage or distribution for online selling, music and film production, car parks, marinas, crematoria, public transport premises, postal sorting offices, job centres and citizens advice.
So a high-street estate agent and the cafe next door can have identical rateable values and still pay different multipliers. GOV.UK's own example shows the effect: a dental surgery with a rateable value of £60,000 uses 48p (£28,800 before relief), while a cafe with a rateable value of £110,000 uses 43p.
Why is my multiplier 1p higher than the published rate?
In England in 2026/27 most properties already in the rating list on 31 March 2026 pay a 1p transitional relief supplement on top of their multiplier, unless they get transitional relief or supporting small business relief. So 48p becomes 49p and 38.2p becomes 39.2p.
The supplement is added before any relief and is shown on the bill as a separate gross amount. It doesn't apply to properties getting transitional relief or supporting small business relief, rural rate relief, heat networks or public lavatories relief, or to genuinely new properties added to the list after 31 March 2026. It is due to continue at 1p in 2027/28 and 2028/29. Our calculation guide covers who pays it in more detail.
In practice, the multiplier on your bill is often 1p higher than the headline rate. The table shows what that means for each rate:
| Published multiplier 2026/27 | With 1p supplement |
|---|---|
| 38.2p (small business RHL) | 39.2p |
| 43p (standard RHL) | 44p |
| 43.2p (small business) | 44.2p |
| 48p (standard) | 49p |
| 50.8p (high-value) | 51.8p |
GOV.UK's estimate page and its worked examples use the multipliers without the supplement, which is one reason a bill can come out higher than a quick sum suggests.
How much difference does the multiplier make to a bill?
Each penny of multiplier costs 1% of your rateable value a year. On a £30,000 rateable value the 5p gap between the RHL and non-RHL multipliers is £1,500 a year before relief, and crossing the £51,000 line moves you up to a higher multiplier on the whole rateable value.
These England examples assume each property is occupied, was in the rating list on 31 March 2026 and is not getting transitional relief or supporting small business relief, so the 1p supplement applies. Other reliefs are ignored to show the multiplier effect on its own.
| Property (England, 2026/27) | Multiplier + 1p | Before relief |
|---|---|---|
| Gym, RV £30,000 (RHL) | 38.2p + 1p = 39.2p | £30,000 × 0.392 = £11,760 |
| Accountants' office, RV £30,000 (excluded professional service) | 43.2p + 1p = 44.2p | £30,000 × 0.442 = £13,260 |
| Shop, RV £60,000 (RHL) | 43p + 1p = 44p | £60,000 × 0.44 = £26,400 |
| Workshop, RV £60,000 (not RHL) | 48p + 1p = 49p | £60,000 × 0.49 = £29,400 |
| Large store, RV £600,000 | 50.8p + 1p = 51.8p | £600,000 × 0.518 = £310,800 |
The £51,000 step
The multiplier applies to the whole rateable value, not in slices like income tax. A non-RHL property at £50,999 is charged £50,999 × 0.442 = £22,541.56 a year, but at £51,000 it is £51,000 × 0.49 = £24,990. One pound more of rateable value means about £2,450 more before relief. If your rateable value sits just above £51,000 (or just above £500,000), the valuation is worth a careful look. That doesn't mean it is wrong: the figure has to reflect the property's rental value at 1 April 2024, and a challenge can raise a value as well as lower it.
To put your own rateable value through the sum, with the reliefs that may apply, try the business rates calculator.
Why are multipliers different in the City of London?
The City of London Corporation adds its own premium on top of the national multipliers, so ratepayers in the City are charged on higher rates. GOV.UK sends City ratepayers to the City of London Corporation's own page for the figures.
The City of London (the "Square Mile") is the only area in England where the multipliers differ from the national ones. Government guidance to councils for 2026/27 says the City premium sits outside transitional relief and outside supporting small business relief, so it is paid in full on top of those schemes, subject to other reliefs.
Two different extras can appear on London bills, and they are easy to mix up:
- The City of London premium: only for property in the City, built into the multiplier the City uses.
- London's Business Rates Supplement: a separate charge outside transitional relief that can appear on bills elsewhere in London. Your council can tell you whether it applies to your property.
We don't list the City's figures here. Check the City of London Corporation's bill page or your bill.
What is the business rates multiplier in Wales?
Wales has three multipliers for 2026/27: a retail multiplier of 0.350 for smaller shops with a rateable value below £51,000, a standard multiplier of 0.502, and a higher multiplier of 0.515 for rateable values above £100,000. They depend on the property's description in the rating list.
Wales works differently from England in four ways that matter:
- The test is the rating-list description, not the use. The 0.350 retail multiplier applies to RV below £51,000 where the description is "shop and premises", "kiosk and premises", "pharmacy and premises", "post office and premises" or "shop, post office and premises". Large shops, department stores, superstores, banks, betting shops, salons, cafes, pubs and restaurants are not on it.
- The higher threshold is £100,000, not £500,000. Property above £100,000 RV pays 0.515, except public-service descriptions such as schools, hospitals, surgeries, libraries, leisure centres and police or fire stations, which stay on the standard 0.502.
- Empty property uses the same multiplier as occupied. In England an empty shop loses the RHL rate; in Wales the relevant multiplier applies either way.
- There is no small business multiplier. Everything that isn't on the retail or higher multiplier pays 0.502, whatever its size. Small businesses get help through Welsh small business rates relief instead.
As an example, an office with an RV of £120,000 in Wales is charged £120,000 × 0.515 = £61,800 before relief. The same RV in England is on the 48p standard multiplier: £120,000 × 0.49 = £58,800 with the 1p supplement, or £57,600 for a property that doesn't pay it.
Wales has also said the lower multiplier will extend to selected food and drink, visitor accommodation and leisure descriptions from 1 April 2027, with the values set in its 2027-28 budget. As the rate depends on the description, it may be worth checking that yours matches how the property is actually used.
What will the business rates multipliers be in 2027/28?
Announced at the Budget on 28 October 2026 and due from 1 April 2027, subject to regulations: 39.5p small business RHL, 44.5p standard RHL, 44.7p small business, 49.7p standard and 52.5p high-value, in England.
| England multiplier | 2026/27 | 2027/28 (announced) |
|---|---|---|
| Small business RHL | 38.2p | 39.5p |
| Standard RHL | 43p | 44.5p |
| Small business | 43.2p | 44.7p |
| Standard | 48p | 49.7p |
| High-value (RV £500,000+) | 50.8p | 52.5p |
The gap between the RHL and non-RHL rates widens from 5p to 5.2p. The government's letter to councils says the figures were updated after Budget day so that inflation adjustments apply consistently to the RHL rates. Other changes announced at the same Budget that affect who pays which multiplier:
- Vape shops and adult gaming centres are due to lose the RHL multipliers, and vape shops also lose small business rate relief.
- A real-terms bill freeze for qualifying RHL property, pubs and live music venues: bills capped by inflation in 2027/28 and 2028/29 (not for increases caused by improvements or loss of other reliefs). A property empty on 1 April can't qualify that year.
- The 1p supplement continues in 2027/28 and 2028/29.
For a shop with an RV of £60,000 paying the supplement, 2027/28 before relief would be £60,000 × 0.455 = £27,300, against £26,400 in 2026/27, although the inflation cap could limit how much a qualifying RHL bill actually rises. In Wales, the 2027-28 multipliers will be set in the Welsh budget.
What were the business rates multipliers in previous years?
Before April 2026 England had just two multipliers: a standard multiplier for rateable values of £51,000 or more and a small business multiplier below that. In 2025/26 they were 55.5p and 49.9p.
England, as published on GOV.UK:
| Year | Standard multiplier | Small business multiplier |
|---|---|---|
| 2025/26 | 55.5p | 49.9p |
| 2024/25 | 54.6p | 49.9p |
| 2023/24 | 51.2p | 49.9p |
| 2022/23 | 51.2p | 49.9p |
| 2021/22 | 51.2p | 49.9p |
| 2020/21 | 51.2p | 49.9p |
| 2019/20 | 50.4p | 49.1p |
| 2018/19 | 49.3p | 48.0p |
| 2017/18 | 47.9p | 46.6p |
The small business multiplier stayed at 49.9p for six years running, while the standard multiplier rose to 55.5p by 2025/26. In 2025/26 many shops, pubs and restaurants also got a separate 40% retail, hospitality and leisure relief. The RHL multipliers replaced that relief from April 2026.
If you are checking an older bill, use the multiplier for the year the bill covers, and remember the 2023/24 to 2025/26 bills were based on 2023 list rateable values.
What can I do if I think I'm on the wrong multiplier?
Ask your council: it applies the multiplier and decides whether a property counts as retail, hospitality or leisure. If the problem is the rateable value itself, for example it is just over £51,000 or the property details are wrong, that goes to the Valuation Office through Check, Challenge and Appeal.
There are two separate routes, depending on which half of the sum looks wrong.
- The multiplier or the 1p supplement (council): for example, an occupied cafe charged at 43.2p instead of 38.2p, or a property getting transitional relief that is also shown paying the supplement. Write to the council's business rates team with how the property is used.
- The rateable value (Valuation Office): if the floor area, use or other details are wrong, or similar nearby properties have lower values. This can matter more when the value sits just above £51,000 or £500,000. You can check and challenge your business rates yourself, free, through a business rates valuation account, or a rating surveyor can do it for you.
A changed rateable value can go up as well as down, and a change to the multiplier band only follows if the value moves across a threshold. There's no guarantee either route reduces your bill. Keep paying the bill as it stands while you ask.
Related guides
Business rates multipliers: frequently asked questions
What is the business rates multiplier for 2026/27?
In England there are five: 38.2p and 43p for occupied retail, hospitality and leisure property under £500,000 rateable value, 43.2p and 48p for other property under £500,000, and 50.8p for any property with a rateable value of £500,000 or more. The lower of each pair applies below £51,000 rateable value. In Wales the multipliers are 0.350, 0.502 and 0.515.
What is the small business rates multiplier?
It is the multiplier for properties with a rateable value under £51,000. In England in 2026/27 it is 43.2p, or 38.2p for qualifying retail, hospitality and leisure property. You are on it whether or not you get small business rate relief. Wales has no separate small business multiplier.
Is the non domestic rates multiplier the same as the business rates multiplier?
Yes. Non-domestic rating multiplier is the legal name used in legislation and government letters to councils; business rates multiplier is the everyday name. Both mean the pence-per-pound figure your rateable value is multiplied by.
What was the uniform business rate?
Uniform business rate, or UBR, is the older name for the business rates multiplier. Rates have been set by central government at a national rate since 1990, which is why it was called uniform. England now has five multipliers, so the old name no longer quite fits.
Does an empty shop get the retail, hospitality and leisure multiplier?
Not in England. The RHL multipliers only apply to occupied property, so an empty shop is charged on 43.2p or 48p (or 50.8p at £500,000 or more) once any empty property relief ends. In Wales the same multiplier applies whether a property is occupied or empty.
Do offices get the lower multiplier?
Usually not. Offices are not a retail, hospitality or leisure use, and professional services such as accountants, solicitors, surveyors and estate agents are specifically excluded. An office in England pays 43.2p below £51,000 rateable value or 48p from £51,000 to £499,999 in 2026/27.
Why does my bill use 49p instead of 48p?
In England in 2026/27 most properties already in the rating list on 31 March 2026 pay a 1p transitional relief supplement on top of their multiplier, unless they get transitional relief or supporting small business relief. It is due to continue in 2027/28 and 2028/29.
Who decides which multiplier I pay?
Your council applies the multiplier and decides whether the property is a qualifying retail, hospitality or leisure property. The multiplier rates themselves are set nationally. The rateable value, which decides whether you are above or below £51,000 or £500,000, is set by the Valuation Office.
What will the business rates multipliers be in 2027/28?
Announced at the Budget on 28 October 2026 and due from 1 April 2027, subject to regulations: 39.5p and 44.5p for qualifying retail, hospitality and leisure property, 44.7p and 49.7p for other property, and 52.5p for rateable values of £500,000 or more.
Why are multipliers different in the City of London?
The City of London Corporation adds a premium to the national multipliers, so City ratepayers pay higher rates. The premium is paid on top of transitional relief and supporting small business relief. The City of London's own website has the current figures.
What were the business rates multipliers in 2025/26?
In England the standard multiplier was 55.5p and the small business multiplier was 49.9p. There were no separate retail, hospitality and leisure multipliers then; instead many of those businesses got a 40% retail, hospitality and leisure relief.
Is my multiplier lower in 2026/27 than last year?
The headline rates are lower than 2025/26, but rateable values also changed at the 2026 revaluation, so a lower multiplier does not necessarily mean a lower bill. Compare the full bill, not just the multiplier, and check the rateable value it uses.
Sources
We checked the facts on this page against these official sources on 12 November 2026: