Chancellor announces freeze to 2021/22 Business Rates Multiplier

Following the chancellor’s 2020 Spending Review speech in the House of Commons the treasury has confirmed that the UBR in England will not be subject to its annual increase in line with inflation.

This means that small property multiplier will be £0.499 and, assuming no adjustments to the SBR supplement are made, the large property UBR will be £0.512.

Further measure to help rate payers with the effects of COVID-19 will be announced in the New Year.

The 2021/22 multipliers have yet to be announced in Scotland and Wales.