{"id":21514,"date":"2021-11-11T17:19:45","date_gmt":"2021-11-11T17:19:45","guid":{"rendered":"https:\/\/smh.group\/?p=21514"},"modified":"2023-02-15T13:47:09","modified_gmt":"2023-02-15T13:47:09","slug":"positive-news-for-business-rates-from-the-chancellor","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/positive-news-for-business-rates-from-the-chancellor\/","title":{"rendered":"Positive news for business rates from the Chancellor"},"content":{"rendered":"

The Autumn Budget announcements included a series of measures to alleviate the burden of business rates in England. For 2022\/23, 50% relief will be available for eligible retail, hospitality and leisure properties, and the business rates multipliers will again be frozen.<\/strong><\/p>\n

2022\/23 measures<\/strong><\/p>\n

The business rates multipliers for the current year have already been frozen at 2020\/21 levels, and this measure will continue until 31 March 2023, keeping the multipliers at 49.9p (small business) and 51.2p (standard).<\/p>\n

Many businesses already pay no business rates due to small business rates relief, and retail, hospitality and leisure properties currently benefit from a 66% discount. For 2022\/23, retail, hospitality and leisure properties not qualifying for small business rates relief will receive a 50% business rates discount, subject to a cash cap of \u00a3110,000 for each business.<\/p>\n

Eligibility for the 2022\/23 50% discount will not be as wide as the current 66% discount, although detailed guidance has not yet been published.<\/p>\n

Longer term<\/strong><\/p>\n

The Budget announcements are a far cry from the hoped-for radical reform of business rates, although a raft of other measures effective from 2023 will help over the longer term. These include:<\/p>\n