Autumn Statement 2023 business rates measures

As part of the Autumn Statement on 22nd November 2023 the Government announced several support packages for Businesses.

• Retail, Leisure and Hospitality sector - The Government announced that the 75% Business Rates Relief Scheme will continue for 2024/25. This will be subject to a cap of £110,000 per business.

• Business Rates Multiplier – The Government announced that the Business Rates Multiplier for RV’s below £51,000 will remain frozen at £0.499 in 2024/2025 and that the poundage for RV’s above £51,000 will increase by inflation to £0.546 (a 6.7% increase).

We have attached a link below which provides more detail

https://www.gov.uk/government/publications/52023-autumn-statement-business-rates-measures/52023-autumn-statement-business-rates-measures