This week, the Treasury has published a Statutory Instrument and guidance which defines 'qualifying RHL hereditaments'.
This is in the context of the upcoming permanently lower multipliers for Retail, Hospitality and Leisure (RHL) properties with a rateable value of under £500,000. Whilst the multiplier rates will not be confirmed until the Budget, the intention of the guidance is to provide clarity on which hereditaments will fall into scope of these lower multiplier rates.
The guidance - which can be found here - differs from the approach taken to the 2025/26 40% RHL relief, in that there will be no cash cap. Therefore, hereditaments which fall below the rateable value of £500,000 and meet the requirement to be considered as RHL will qualify for the lower multipliers - with the guidance clarifying that this will also apply to shops that are in chains.
