Press release
22 November 2023
Richard Johnson, director, real assets advisory at Deloitte, commented:
“There is no doubt that an extension of the retail, leisure and hospitality business rates relief for another year will be a huge benefit to many small and independent businesses across the sector. Given that relief is capped per business, it seems the government is targeting support towards small, local businesses such as shops, restaurants, cafés, and leisure outlets to maintain and develop high street communities.
“Where a small business occupies a property with a Rateable Value of say £50,000, their tax rate will remain at approximately £24,950. But when it is a retail, hospitality or leisure business they will continue to receive 75% relief – enjoying a saving of £18,713 and only paying £6,238 for the next rate year.”
@DeloitteUK for live comment
Deloitte spokespeople
Deloitte has a range of spokespeople available to comment on today’s Autumn Statement. They can be reached on 020 7007 3333 or 0207 303 5054 or one of the following numbers:
• Ian Stewart - chief economist (07774 337 581)
• Amanda Tickel - head of tax policy (07920 270 964)
• Rachel McEleney - personal tax (07826 891 752)
• Alison Lobb - corporate tax (07768 178264)
• Michael Nicolaides - employment tax (07586 511 104)
• Richard Johnson - business rates (07774 337 581)
About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.
Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.