2026 Business Rates in Wales

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For the financial year 2025-26 the multiplier applicable to all properties in Wales is 0.568. 

From 1 April 2026, there are three multipliers which may apply to a property in Wales. The provisional multipliers announced for 2026-27 are as follows: 

• a retail multiplier of 0.350, applicable tosmall to medium sized retail shops with a rateable value below £51,000; 
• a standard multiplier of 0.502, applicable to most other properties; and
• a higher multiplier of 0.515, applicable to properties with a rateable value above £100,000

After gross liability is calculated by combining the rateable value and the relevant multiplier, it may be reduced as a result of relief.

Retail Multiplier 

A lower retail multiplier for small to medium sized shops is intended to help re-balance the non-domestic rates system in their favour.

The retail multiplier applies to properties with rateable values below £51,000 and one of the following descriptions in a local rating list: 

• kiosk and premises;
• pharmacy and premises;
• post office and premises;
• shop and premises; or
• shop, post office and premises.

The retail multiplier does not apply to large shops, department stores, hypermarkets and superstores. It also does not apply to properties which are wholly or mainly used for the sale of services (e.g. banks, betting shops and salons) or food and drink for consumption on the premises (e.g. cafes, pubs and restaurants). 

This is a huge change for many businesses that currently benefit from the 40% retail discount and will see liabilities increase greatly for many gyms, cafes, pubs, car repairers and hair salons to name just a few.

Standard multiplier 

The standard multiplier applies to all properties which are not subject to either the retail multiplier or the higher multiplier: 

• properties with a rateable value below £51,000 which are not subject to the retail multiplier;
• all properties with a rateable value between £51,000 and £100,000; and
• properties with a rateable value above £100,000 which are not subject to the higher multiplier. 

Higher multiplier 

The higher multiplier applies to properties shown in a local or central rating list with a rateable value above £100,000. There are some exceptions for specific property types which are occupied by public sector bodies or other institutions which are largely sustained by public funding models. 

So what support is there for businesses in Wales?

Subject to seeing the published legislation, the Welsh Government have said they will be introducing a transitional relief scheme to limit increases in rates liability next year. In broad terms a rateapayer will pay no more than 33% of the additional liability next year as a result of the revaluation. We will wait to see the detail before we go further but we have developed software to calculate next years` liability based on what we know right now so please get in touch if you would like us to do a free assessment for you.