Business rate changes as a result of the Budget 2021
Last updated: Wednesday 27 October at 14:46
On Wednesday 27 October 2021, the Chancellor announced a series of measures to support businesses from April 2022. These are:
- The business rates multipliers will be frozen for 2022/23. This means the multipliers will stay at 49.9p for small business (occupied premises with a rateable value under £51,000 that are not entitled to mandatory relief) and 51.2p for standard business premises.
- Revaluations will take place every three years from April 2023, instead of every five years currently.
- Businesses in the retail, hospitality and leisure sectors will be eligible for 50% retail discount, up to a cap of £110,000 for 2022/23.
- 'Green energy relief' allowance for businesses investing in green energy.
- 'Business improvement relief' allowing rates for businesses making improvements to their property to not rise for 12 months.
We don't have any other information on these measures at the moment. We'll update the business rates pages when we do.