Small shops, pubs and restaurants to save on average £11,728 to £16,507 in business rates

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