Business Rates Update - Autumn 2021 Budget
• Business Rates will be frozen for a second year, from 1 April 2022
until 31 March 2023, the multiplier will remain the same as
• 50% Business Rates Relief for eligible retail, hospitality and leisure
properties for 2022-23 subject to a cap of £110,000 per business.
• Extended transitional relief for small and medium-sized businesses
for 1 year. This will restrict bill increases to 15% for small
properties (up to a rateable value of £20,000 or £28,000 in
Greater London) and 25% for medium properties (up to a rateable
value of £100,000).
Business Rates post 1st April 2023
• Increase the frequency of Business Rates revaluations
so that they take place every 3 years after 2023.
• Introduce a 100% rates relief for property improvement. This will
provide 12 months relief from higher bills for occupiers who
undertake improvements to an existing property, for example
installing air conditioning or extensions, which increase the
• Introduce from 1 April 2023 until 31 March 2035 targeted Business
Rate exemptions for eligible plant and machinery used in onsite
renewable energy generation and storage, and a 100% relief for
eligible heat networks, to support the decarbonisation of nondomestic
buildings. We await further details as to how this will be