2026 No. 39
rating and valuation, wales

The Non-Domestic Rating (Value of Differential Multipliers) (Wales) Regulations 2026

Made
Coming into force
The Welsh Ministers make the following Regulations in exercise of the powers conferred on them by paragraph A16(2)(b) and (3) of Schedule 7 to the Local Government Finance Act 19881.
These Regulations have been laid before Senedd Cymru in accordance with the Senedd approval procedure under section 143A(5)(m) of that Act2.

Title and coming into force1.

(1)

The title of these Regulations is the Non-Domestic Rating (Value of Differential Multipliers) (Wales) Regulations 2026.

(2)

These Regulations come into force on 1 April 2026.

Prescribed values of the retail multiplier and the higher multiplier2.

(1)

For the purposes of paragraph A16(2)(b) of Schedule 7 to the Local Government Finance Act 1988, the value of N—

(a)

for the retail multiplier described in regulation 3 of the 2025 Regulations is 0.697;

(b)

for the higher multiplier described in regulations 4 and 5 of the 2025 Regulations is 1.026.

(2)

In this regulation, “the 2025 Regulations” means the Non-Domestic Rating (Description of Differential Multipliers) (Wales) Regulations 20253.
Mark Drakeford
Cabinet Secretary for Finance and Welsh Language, one of the Welsh Ministers
EXPLANATORY NOTE
(This note is not part of the Regulations)

In relation to Wales, the non-domestic rating multiplier for each chargeable financial year is calculated in accordance with Part A2 of Schedule 7 to the Local Government Finance Act 1988 (“the 1988 Act”).

Where regulations made under paragraph A16 of Schedule 7 to the 1988 Act (calculation of differential multipliers) apply in respect of a hereditament, a differential multiplier determined by the Welsh Ministers in regulations applies in respect of that hereditament, calculated by reference to the formula in paragraph A16(1). The formula requires M to be multiplied by N, where M is the non-domestic rating multiplier for the chargeable financial year under paragraph A14 or A15, and N is a number prescribed by the Welsh Ministers in regulations.

The Non-Domestic Rating (Description of Differential Multipliers) (Wales) Regulations 2025 (“the 2025 Regulations”) specify the hereditaments on a local non-domestic rating list by reference to their description and range of rateable values, to which a retail multiplier and a higher multiplier will apply. They also specify the range of rateable values shown against the name of a designated person on the central non-domestic rating list to which a higher multiplier will apply.

These Regulations prescribe the values of those differential multipliers by designating values to N. The value of N for the purpose of the retail multiplier described by regulation 3 of the 2025 Regulations is 0.697. The value of N for the purpose of the higher multiplier described by regulations 4 and 5 of the 2025 Regulations is 1.026. This has the effect of setting the retail multiplier and the higher multiplier, respectively, at 30.3% below and 2.6% above the non-domestic rating multiplier for the relevant financial year.

The Welsh Ministers’ Code of Practice on the carrying out of Regulatory Impact Assessments was considered in relation to these Regulations. As a result, a regulatory impact assessment has been prepared as to the likely costs and benefits of complying with these Regulations. A copy can be obtained from the Non-Domestic Rates Policy and Reform Division, Welsh Government, Cathays Park, Cardiff, CF10 3NQ.