Additional Multipliers for England
At the Autumn Budget on 30 October 2024 the Chancellor of the Exchequer announced that the government will create a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century. 5  As a first step the government announced:
an intention to introduce through primary legislation permanently lower multipliers for qualifying retail, hospitality and leisure properties under £500,000 rateable value from April 2026/27,
an intention to fund this sustainably by introducing through primary legislation higher multipliers on properties with rateable value £500,000 or more, which includes the majority of large distribution warehouses including those used by online giants,
support for qualifying retail, hospitality and leisure properties in the interim period leading up to the new permanent multipliers by providing 40% relief to such businesses on their business rates in 2025/26, up to a cash cap of £110,000 per business (delivered using existing legislation), and
protection of the smallest properties by freezing the small business multiplier in 2025/26, protecting over a million properties from inflationary bill increases (delivered using existing legislation).
	Accordingly, this Act creates powers to enable the introduction of additional multipliers:
new lower multipliers for qualifying retail, hospitality and leisure hereditaments, and
new higher multipliers for hereditaments with a rateable value of £500,000 or more.