"The Business Rates Reform will offer relief for some, and pain for others. From April 2026, more than 750,000 retail, hospitality, and leisure properties with a rateable value under £500,000 will benefit from permanently lower business rates multipliers. A £4.3 billion transitional support package will cushion steep increases after revaluation. However, the reform is funded by a higher multiplier (+2.8p) on properties over £500,000, hitting supermarkets, hotels, and leisure complexes hardest."
"Wage pressures and employment costs is another area of complexity. The National Living Wage will rise to £12.71/hour for workers aged 21+ and £10.85/hour for 18-20-year-olds from April 2026. Apprentices and under-18s will earn £8/hour. Hospitality alone faces an estimated £1.4 billion extra cost, with similar pressure on leisure venues and retail chains. Employers also face frozen tax thresholds until 2031, higher dividend taxes, and capped salary-sacrifice NIC exemptions from 2029, adding to payroll complexity."
From April 2026, more than 750,000 retail, hospitality, and leisure properties with rateable values under £500,000 will face permanently lower business rates multipliers. A £4.3 billion transitional support package will cushion steep increases after revaluation. The reform is funded by a higher multiplier (+2.8p) on properties over £500,000, affecting supermarkets, hotels, and leisure complexes and risking closures, job losses, and reduced investment. The National Living Wage will rise to £12.71/hour for 21+ and £10.85/hour for 18–20-year-olds, increasing payroll costs, with hospitality facing about £1.4 billion extra. Tax thresholds remain frozen until 2031, dividend taxes rise, and some NIC exemptions will be capped from 2029. English mayors can introduce tourist taxes, and a National Licensing Policy Framework will modernize rules, including hospitality zones. Businesses can claim 40% First Year Allowance and full expensing for qualifying plant and machinery.
Read at London Business News | Londonlovesbusiness.com
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