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Small business multiplier frozen while the 75% RHL relief will be extended
A third of properties in England have already been taken out of rates completely through Small Business Rates Relief, and the government has also frozen the tax rate for the last three years, extended the relief for Retail, Hospitality and Leisure (RHL) properties and removed downwards caps from transitional relief.
The government will continue to make sure that support is offered to the small businesses, high street shops and independent cafes and pubs that need it most.
The small business multiplier will be frozen for another year, while the 75% RHL relief will be extended for 2024/25. The standard multiplier will be uprated in line with September’s CPI.
These changes will take effect from 1 April 2024 in England.
Business rates reliefs for Wales and Scotland will be considered separately through their respective governments’ draft Budgets for 2024/25, due to be announced later this year.