Business Rates: Tax Allowances
The question
To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 January 2025 to Question 24513 on Business Rates: Tax Allowance, what the net value is of the package when adjusted for changes to the (a) retail, hospitality and leisure business rate relief and (b) standard multiplier in the 2025-26 financial year.
Answered by James Murray
Autumn Budget 2024 announced the extension of Retail, Hospitality and Leisure (RHL) relief for one year at 40 per cent up to a cash cap of £110,000 per business, and the freezing of the small business multiplier for 2025-26. This is a package worth over £1.6 billion in 2025-26.
For both business rates measures, the breakdown of costings over the scorecard period can be found on page 120 (lines 47-48) in ‘Chapter 5: Policy decisions’ of Autumn Budget 2024: https://assets.publishing.service.gov.uk/media/672b9695fbd69e1861921c63/Autumn_Budget_2024_Accessible.pdf
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