HM Treasury has set the high‑value non‑domestic rating multiplier for England at B + 0.028 for financial years beginning on or after 1 April 2026. The instrument was laid under the affirmative procedure and applies in relation to England only. (statutoryinstruments.parliament.uk)
Scope is defined by rateable value rather than sector. The high‑value multiplier applies where the hereditament’s rateable value is £500,000 or above, inclusive of that threshold, across all property uses. Government material for 2026/27 confirms that the high‑value rate sits above the national standard multiplier and is applied to all properties at or above £500,000 RV. (gov.uk)
From April 2026 England moves to five national multipliers: two for qualifying retail, hospitality and leisure properties and three for other hereditaments including the new high‑value rate. For 2026/27, the published pence‑in‑the‑pound figures are 38.2p (small business RHL), 43.0p (standard RHL), 43.2p (small business, non‑RHL), 48.0p (standard, non‑RHL) and 50.8p (high‑value, all uses). The RHL multipliers are set 5p below the corresponding national multipliers, funded by the high‑value rate set 2.8p above the standard. (gov.uk)
The Regulations express the high‑value rate as B + 0.028 because “B” is the base multiplier referenced in the Act’s chargeable‑amount rules. Where the high‑value multiplier is used under Schedules 4ZA, 4ZB or 5A to the Local Government Finance Act 1988, “B” takes the meaning given in those Schedules, with separate definitions for special authorities and for other billing authorities. (statutoryinstruments.parliament.uk)
What this means in cash terms is straightforward. A property with a 2026 list rateable value of £600,000 charged on the high‑value multiplier would face a pre‑reliefs liability of £304,800 for 2026/27, calculated as 0.508 × £600,000, using the published figures. Actual bills may differ once transitional arrangements, sector‑specific multipliers, supplements and any reliefs are applied. (gov.uk)
Special‑authority treatment remains distinct. The 1988 Act defines a “special authority” in section 144(6) and, in practice, government explanatory material confirms that only the City of London qualifies. Where the special‑authority rules apply, the definition of “B” and any City premium operate as provided for in the primary legislation and guidance. (legislation.gov.uk)
The statutory footing for creating additional multipliers, including the high‑value rate, is paragraphs A6A and 9B of Schedule 7 to the 1988 Act, inserted by the Non‑Domestic Rating (Multipliers and Private Schools) Act 2025. Those provisions take effect for financial years from 1 April 2026, enabling HM Treasury to set the higher (and lower) multipliers by regulation subject to Commons approval. (legislation.gov.uk)
Bills issued from April 2026 will also reflect the government’s transitional framework. Transitional relief phases in increases arising from the 2026 revaluation, and the 2026 Supporting Small Business Relief caps year‑on‑year rises for eligible ratepayers. Guidance confirms a 1p Transitional Relief Supplement in 2026/27 where transitional protection does not apply; no separate supplement is added to bills within the SSBR scheme. (gov.uk)
The wider shift to five multipliers sits alongside the three‑yearly revaluation cycle introduced by the Non‑Domestic Rating Act 2023 and the 2026 list coming into force on 1 April 2026. Ratepayers should expect their 2026/27 liability to be driven by both their new rateable value and the correct multiplier for their property’s use and value band. (legislation.gov.uk)
For finance directors and rating agents, the operational checklist is clear. Identify whether any hereditament in the portfolio is at or above the £500,000 threshold on the 2026 rating list; confirm whether the RHL definition applies to any sites; and model liabilities using the published multipliers, applying transitional and SSBR caps where relevant. Where properties fall within the City of London, ensure the City premium and special‑authority definitions of “B” are reflected in forecasts. (gov.uk)