The small business RHL multiplier will be at 38.2p, with the standard RHL multiplier at 43p in 2026-27. This will bring the sector’s multipliers to 5p below their national equivalents.
The move is aimed at assisting over 750,000 RHL businesses, including pubs and shops.
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To fund this, the government will introduce higher rates on properties with rateable values of £500,000 and above, setting the rate at 2.8p above the national standard.
The chancellor also announced a support package worth £4.3bn over the next three years for properties of any size that have seen large bill increases.
Making the tax announcement in parliament today, Reeves said: “For business rates I will introduce permanently lower tax rates for over 750,000 retail, hospitality and leisure properties.”
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