Key Points
2025/26
Key points
2023/24
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ENGLAND
- 2025/26 Small Multiplier frozen at 0.499p
- 2025/26 Standard Multiplier increased by CPI 1.7% to 0.555p
- Retail Relief for eligible Retail, Hospitality and Leisure Properties to be reduced from 75% to 40% with effect from 1st April 2024 (capped at £110,000 per group of companies for the 2025/26 Rate Year).
- 80% Charitable Relief to be removed from qualifying Independent Fee-Paying Schools (this is in line with the removal of the relevant VAT exemption).
- Confirmation that Duty to Notify will be rolled out on a phased basis in April 2026, being full mandated by April 2029
- With effect from April 2026, the Government have promised to permanently reduce the multiplier on Retail, Hospitality and Leisure businesses, funded by a higher multiplier on the high value assets with a Rateable Value of £500,000 and above.
- The publication of a Discussion Paper, setting out other potential areas of business rates reform, including a shorter revaluation cycle and/or a shorter gap between the valuation date and each new rating list. The Discussion Paper also raises the prospect of a further crackdown on business rates avoidance and evasion, following the previous Budget’s tightening of Empty Rate Mitigation.
- Changes to the Completion Notice procedures introduced with effect from 26th December 2023.
- Removal of 6 months restriction on backdating for claiming reliefs or discounts provided under S.47 Discretionary Powers.
- Outcome of Consultation into Empty/Unoccupied Rates published. In England, Empty Rates Relief will now only apply if the property is occupied for at least 3 months, doubling the current six-week requirement.
SCOTLAND
- Basic property Multiplier froze at 2023/24 levels 0.498p.
- The Intermediate and Higher Property Rates will increase on 1 April 2024 by inflation to 0.545p and 0.559p respectively.
- A 100% Non-Domestic rates relief will be available in 2024-25 for properties in the hospitality sector on islands, as defined by the Islands (Scotland) Act 2018, capped at £110,000 per ratepayer.
- Parks Transitional relief will provide 33% relief in 2024-25 for parks or parts of parks that became rateable on 1 April 2023.
- District Heating relief for renewables, which had been due to expire on 31 March 2024, will be extended and expanded.
- Telecommunications mobile mast relief will be extended.
- Enterprise Areas relief, to be phased out over 2024-25 and 2025-26.
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WALES
- 2024/25 Multiplier increase capped at 5% - 0.562p.
- Relief for eligible retail, hospitality, and leisure businesses extended for 12 months, however relief reduced from 75% to 40%. Capped at £110,000 per ratepayer across Wales.
- £20Million Future Proofing Fund. This capital fund will provide support for businesses investing in their business and properties.
- Measures to be introduced to support ratepayers investing in property improvements and renewable energy.