Business Rates: Tax Allowances
The question
To ask the Secretary of State for Housing, Communities and Local Government, with reference to the debate on the Non-Domestic Rating (Multipliers and Private Schools) Bill of 25 November 2024, Official Report, column 594, whether the Retail, Hospitality and Leisure multipliers from 2026 will (a) be in addition to and (b) replace the small business rate relief multipliers.
Answered by Jim McMahon
To deliver our manifesto pledge, we intend to introduce permanently lower tax rates for retail, hospitality, and leisure properties, including those on the high-street, from 2026-27. This permanent tax cut will ensure they benefit from much-needed certainty and support. This tax cut must be sustainably funded, and so we intend to introduce a higher rate on the most valuable properties from 2026-27 - those with Rateable Values of £500,000 and above.
The government has no plans to abolish small business rates relief which is a permanent relief set down in legislation. In our paper 'Transforming Business Rates' we have committed to exploring whether and how small business rates relief can be improved to better support business investment and expansion.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →