Vickery Holman offers expert advice on the recent Budget changes for business ratepayers

Monday 2nd December, 2024

Vickery Holman, a commercial property consultancy based in Newham, have been supporting businesses in the region since the details of the Autumn Budget were announced in October.

Unfortunately, the Budget brought little good news for those in the industrial and office sectors; many occupiers will face continued increases to their bills from April 2025. Those with a rateable value below £51,000 are protected for the time-being as the small business multiplier has been frozen for a further year from April 2025. But those with a rateable value above £51,000 will have their business rates liabilities calculated using a higher multiplier (55.5p rather than 54.6p).

Whilst support has been announced for retail, hospitality and leisure businesses in the form of extended relief from April 2025 and permanently lower multipliers from April 2026, no support has been announced for businesses in the industrial and office sectors. It therefore remains important to ensure your business rates liability has been calculated accurately.  

Vickery Holman’s expert team can advise on rateable values and support businesses with mitigating their rates liability. Contact their Head of Rating, Jordan Kennedy, on 07894 193 951or at jkennedy@vickeryholman.com.