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According to the commercial real estate intelligence firm Altus Group, the freezing of the small business rates multiplier for another year coupled with the extension of the 75% discount for occupied retail, leisure and hospitality premises for 2024/25 will save the average shop £11,728, restaurant £16,507, pub £12,869 and café £6,072 in business rates next April
Average Retail Premises
Average Retail Premises Rateable Value – £28,767
2023/24 UBR 49.9p
Liabilities – £14,354.73
75% Discount – £10,766.05
Average 2023/24 Retail Business Rates Bill – £3,588.68 (subject to business cap)
Average Retail Premises Rateable Value – £28,767
2023/24 UBR 49.9p
Liabilities – £14,354.73
6.7% Inflationary Rise for 2024/25 – £961.77
Average 2024/25 Retail Business Rates Bill – £15,316.50
Extending the discount and freezing small business multiplier saving next April – £11,727.82
Average Restaurant Premises
Average Restaurant Premises Rateable Value – £40,489
2023/24 UBR 49.9p
Liabilities – £20,204.01
75% Discount – £15,153.01
Average 2023/24 Restaurant Business Rates Bill – £5,051 (subject to business cap)
Average Restaurant Premises Rateable Value – £40,489
2023/24 UBR 49.9p
Liabilities – £20,204.01
6.7% Inflationary Rise for 2024/25 – £1,353.67
Average 2024/25 Restaurant Business Rates Bill – £21,557.68
Extending the discount and freezing small business multiplier saving next April – – £16,506.68
Average Pub Premises
Average Pub Premises Rateable Value – £31,567
2023/24 UBR 49.9p
Liabilities – £15,751.93
75% Discount – £11,813.95
Average 2023/24 Pub Business Rates Bill – £3,937.98 (subject to business cap)
Average Pub Premises Rateable Value – £31,567
2023/24 UBR 49.9p
Liabilities – £15,751.93
6.7% Inflationary Rise for 2024/25 – £1,055.38
Average 2024/25 Pub Business Rates Bill – £16,807.31
Extending the discount and freezing small business multiplier saving next April – – £12,868.66
Average Café Premises
Average Café Premises Rateable Value – £14,894
2023/24 UBR 49.9p
Liabilities – £7,432.11
75% Discount – £5,574.08
Average 2023/24 Café Business Rates Bill – £1,858.03 (subject to business cap)
Average Café Premises Rateable Value – £14,894
2023/24 UBR 49.9p
Liabilities – £7,432.11
6.7% Inflationary Rise for 2024/25 – £497.95
Average 2024/25 Café Business Rates Bill – £7,930.06
Extending the discount and freezing small business multiplier saving next April – £6,072.03
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