Business rates budget statement
Autumn Statement 2023 business rates measures
At the Autumn Statement on 22 November 2023, the Chancellor announced that the Government would provide a package of measures to support businesses in England, worth an estimated £4.3 billion over the next five years.
For 2024/2025 the Chancellor announced:
- the small business multiplier will be frozen at 49.9p
- the standard multiplier will be uprated in April by September’s CPI figure (6.7%), increasing the multiplier from 51.2p to 54.6p
- the Retail, Hospitality and Leisure (RHL) scheme will be extended for a fifth year into 2024/2025, retaining the existing scope and providing eligible properties with 75% relief, up to a cap of £110,000 per business
Government will issue full details of the schemes which will have effect from 1 April 2024