9 | UK Autumn Budget 2025: key business rates changes for retail, hospitality and leisure
What is happening?
After much anticipation, the UK government’s Autumn Budget 2025 introduced significant changes to business rates, which will affect those in the retail, hospitality, and leisure (RHL) sectors, in particular.
The new rates revaluation came into effect in England on 1 April 2026 (based on April 2024 values).
For those in RHL, the key change is the replacement of temporary business rates relief with a new, permanent multiplier, set at 5p lower than the national multiplier. However following strong criticism from the sector due to the fact that high new rateable values can wipe out gains from lower multiplies, targeted support packages will also apply to small businesses and qualifying pubs and live music venues.
How might it impact your business?
The key changes to business rates are summarised below:
What action should you consider?
With significant changes ahead, we would recommend that you take the following steps:
- Assess how your property’s new rateable value may impact your budget.
- Review the new multipliers and assess how this may impact your business rates.
- Check whether your business is eligible for one of the applicable reliefs. If you are not eligible, you should factor in the additional 1p surcharge on the multiplier.
Key date for your diary
1 April 2026 – the date the above changes to business rates multipliers came into effect. As mentioned above, these changes apply to England only.
