Post Offices: Yeovil
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the impact of business rates on the viability of post offices in Yeovil constituency.
Answered by Dan Tomlinson
At the Budget, the VO announced updated property values from the 2026 revaluation. This revaluation is the first since pandemic, which has led to significant increases in rateable values for some properties.
The Government has introduced a support package worth £4.3 billion, to protect ratepayers seeing large bills increases as a result of the 2026 revaluation.
The Government has introduced new permanently lower multipliers for eligible retail, hospitality and leisure (RHL) properties, including post offices. The new RHL multipliers are worth nearly £1 billion per year and benefit over 750,000 properties. The new multipliers are permanent, giving businesses certainty and stability, and there is no cap, meaning all qualifying properties on high streets across England benefit.
Post offices are also eligible for small business rates relief or 100 per cent rural rate relief if they meet certain conditions.
Post offices losing rural rate relief, Small Business Rates Relief, or RHL relief at the 2026 revaluation are eligible for the Supporting Small Business scheme, which caps bill increases at the higher of £800 a year, or the relevant Transitional Relief caps.
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