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
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.
