Changes announced in the Autumn Statement 2023

At the Autumn Statement on 22nd November 2023, the Chancellor a package of support worth £4.03 billion over the next 5 years to support small businesses and the high street.

For 2024/25 the Chancellor announced that:

• The small business multiplier will be frozen at 49.9p.
• The standard multiplier will be uprated in April to 54.6p.
• The 2024/25 Retail, Hospitality and Leisure (RHL) scheme will be extended for a fifth year into 2024/25, retaining the existing scope and providing eligible properties with 75% relief, up to a cap of £110,000 per business.

Business rates Heat Networks relief

The government have introduced a new mandatory relief giving 100% business rates relief for eligible low-carbon heat networks with individual rates bil

Business rates local newspaper discount

The local newspaper discount is a reduction of £1,500 for office space occupied by local newspapers. During the 2020 Spring Budget, it was announced that this discount was extended for an additional 5 years up to 31 March 2025.