Who this page is for
This page is for commercial occupiers in England whose rateable value is £500,000 or above, or close enough to that line that a change in the rateable value would move the multiplier. Offices and industrial property at this level are included. The other two pages on this site cover an office in the standard band and an industrial unit at £250,000.
A free check is handled by a RICS-regulated specialist. No win, no fee. The figures on this page are arithmetic. They are not an average, a testimonial or a result for a particular property.
The 50.8p rate and the £500,000 line
In England for 2026/27 the high-value multiplier is 50.8p where the rateable value is £500,000 or above. The next band down, from £51,000 to £499,999, uses 48.0p for property that is not retail, hospitality and leisure. Under £51,000 that property uses 43.2p. There is a separate explanation of the £51,000 line on the homepage.
£499,999 is still in the standard band. £500,000 is on 50.8p. A reduction that crosses the line changes the pence rate as well as the rateable value, so the bill does not fall only by the cut in rateable value times 50.8p.
Qualifying retail, hospitality and leisure property under £500,000 uses 38.2p (rateable value under £51,000) or 43.0p (£51,000 to £499,999). The illustrations on this page use 48.0p once the rateable value is under £500,000. That is the non-retail rate. The full set of multipliers is on the UBR 2026/27 guide. Source: GOV.UK, 2026/27.
If £520,000 were reduced to £495,000
This is the threshold illustration. It is not a 10% reduction. £520,000 minus £495,000 is £25,000. If the rateable value were reduced from £520,000 to £495,000, the property would move from 50.8p to 48.0p.
| Step | Amount |
|---|---|
| Rateable value now | £520,000 |
| Rateable value in this illustration | £495,000 |
| Reduction in rateable value (£520,000 − £495,000) | £25,000 |
| Multiplier now (£500,000 or above) | 50.8p |
| Multiplier at £495,000 (standard band) | 48.0p |
| Bill now, before reliefs (£520,000 × 0.508) | £264,160 |
| Bill at £495,000 (£495,000 × 0.480) | £237,600 |
| Difference in one year (£264,160 − £237,600) | £26,560 |
| From the lower rateable value (£25,000 × 0.508) | £12,700 |
| From 50.8p to 48.0p on the remaining value (£495,000 × 0.028) | £13,860 |
| Check (£12,700 + £13,860) | £26,560 |
| Same difference over the three list years (£26,560 × 3) | £79,680 |
On these figures, more than half of the one-year difference (£13,860 of £26,560) comes from the multiplier changing, not from the £25,000 cut in rateable value alone.
How Check, Challenge, Appeal works
Crossing £500,000 is a consequence of the rateable value that is agreed. It is not a separate appeal route. The stages are the same as for any other commercial property. See Check, Challenge, Appeal.
- Check. Confirm the facts the Valuation Office Agency holds: areas, use and what is included in the valuation.
- Challenge. If the rateable value is still too high, set out the rental evidence at 1 April 2024 and the features of this property.
- Appeal. If the challenge does not resolve it, the case can go to the Valuation Tribunal for England.
The list is based on rental values at 1 April 2024 and runs until 31 March 2029.
Worked example: 10% on a property at £510,000
This second illustration is the 10% case used for a property just over £500,000. The rateable value is £510,000. If the rateable value were reduced by 10%, it would become £459,000, which is under £500,000, so the multiplier would change.
| Step | Amount |
|---|---|
| Rateable value in this illustration | £510,000 |
| 10% of £510,000 | £51,000 |
| Rateable value if reduced by 10% (£510,000 − £51,000) | £459,000 |
| Multiplier now | 50.8p |
| Multiplier on £459,000 (standard band, non-retail) | 48.0p |
| Bill now, before reliefs (£510,000 × 0.508) | £259,080 |
| Bill if the rateable value were reduced by 10% (£459,000 × 0.480) | £220,320 |
| Difference in one year (£259,080 − £220,320) | £38,760 |
| Of which, the rateable value cut at 50.8p (£51,000 × 0.508) | £25,908 |
| Of which, the multiplier change (£459,000 × 0.028) | £12,852 |
| Check (£25,908 + £12,852) | £38,760 |
| Same difference over the three list years, to 31 March 2029 (£38,760 × 3) | £116,280 |
The same assumptions apply: England, 2026/27, before reliefs and supplements, and the three-year line only repeats the 2026/27 difference. A 10% reduction is an assumption, not an expected outcome.
Questions
What is the high-value business rates multiplier in 2026/27?
In England for 2026/27 the high-value multiplier is 50.8p. It applies where the rateable value is £500,000 or above. From £51,000 to £499,999, property that is not retail, hospitality and leisure uses the standard multiplier of 48.0p. Under £51,000 that property uses 43.2p. These rates are published on GOV.UK.
What happens if a rateable value falls below £500,000?
The multiplier changes as well as the rateable value. This illustration is not a 10% reduction and it is not a forecast. If a property at £520,000 were reduced to £495,000, it would move from 50.8p to 48.0p, which is the standard rate for non-retail, hospitality and leisure property between £51,000 and £499,999. The bill before reliefs would move from £520,000 × 0.508 = £264,160 to £495,000 × 0.480 = £237,600, a difference of £26,560 in 2026/27. Of that, £25,000 × 0.508 = £12,700 comes from the lower rateable value and £495,000 × 0.028 = £13,860 comes from the change of multiplier. £12,700 + £13,860 = £26,560. If that one-year difference were repeated for each of the three list years to 31 March 2029, the total would be £26,560 × 3 = £79,680. Later multipliers have not been set.
What would a 10% reduction mean on a property at £510,000?
This is an illustration for a property just over £500,000. If the rateable value were reduced by 10%, £510,000 would become £459,000. That crosses below £500,000, so the multiplier moves from 50.8p to 48.0p. The bill before reliefs would move from £510,000 × 0.508 = £259,080 to £459,000 × 0.480 = £220,320, a difference of £38,760 in one year. Of that, £51,000 × 0.508 = £25,908 is the rateable value cut at the old multiplier, and £459,000 × 0.028 = £12,852 is the multiplier change. £25,908 + £12,852 = £38,760. Over the three list years to 31 March 2029, repeating that difference gives £38,760 × 3 = £116,280. This is not a forecast, and it excludes reliefs and supplements.
Does the 50.8p multiplier apply only to one type of property?
The 2026/27 high-value multiplier of 50.8p is the rate at a rateable value of £500,000 or above. Offices, industrial property and other commercial property at that level are on this page's worked examples where the illustration uses 50.8p. Below £500,000, qualifying retail, hospitality and leisure property uses 38.2p or 43.0p rather than 43.2p or 48.0p. The sums on this page use 48.0p once the rateable value is under £500,000, which is the non-retail rate.
How long does the 2026 rating list last?
The 2026 rating list took effect on 1 April 2026. It is based on rental values at 1 April 2024 and runs until 31 March 2029. That is three rating years: 2026/27, 2027/28 and 2028/29. Only the 2026/27 multipliers are used in the illustrations on this page.
Ask for a check
A free check takes the property details to a RICS-regulated specialist. There is no fee unless the rateable value is reduced.