The Chancellor’s Autumn Statement – What does it mean for High Street businesses?

The Chancellor’s Autumn Statement – What does it mean for High Street businesses?

On 17th November, the Chancellor announced the Autumn Statement 2022

The statement included changes to Business Rates, full details of which can be found in the government’s Business Rates Factsheet.

Rateable values may go up or down. You can find the future Rateable Value (RV) for your premises and get an estimate of what your business rates bill may be from 1 April 2023 here:
Find a property - Valuation Office Agency - GOV.UK (tax.service.gov.uk)

Rate relief for retail, hospitality and leisure businesses will increase to 75% for 2023-24. 

The BID levy will remain payable. 


About Richmond

Richmond is an affluent residential district bordering the River Thames. Tranquil Kew Gardens attracts botanical enthusiasts and families with its huge Arboretum, 17th-century Kew Palace, and panoramic views from its Treetop Walkway. Herds of deer roam Richmond Park, a popular picnic spot. The Quadrant main street and nearby roads have eclectic shops, casual and upscale dining, and performances at Richmond Theatre.