On the 30th October 2024, Government announced the following:
Multiplier Freeze
- The small business multiplier will be frozen at 49.9p
- The standard multiplier will be increasing from 54.6p to 55.5p (in line with September’s CPI figure (1.6%))
Retail, Hospitality and Leisure Relief
- Support for eligible retail, hospitality, and leisure businesses will be reduced from 75% to 40% up to £110,000 per business
Private Schools
Charitable rate relief will no longer be applicable to private schools.
Charitable Rate Relief
Charities currently receive 80% mandatory rate relief (under section 43 of the Local Government Finance Act 1988) and an additional 20% discretionary rate relief, the majority of which is funded by Dudley MBC.
Due to financial constraints, at the Council meeting on 4th March 2024, it was decided that from 1 April 2025, the additional 20% discretionary rate relief will only be awarded to charities that meet one or both of the following criteria:
- Registered office is in the Dudley Borough, as at 4th March 2024
- Only provide services to people who live in the Dudley Borough
If your charity fits into the criteria above, you will continue to receive the additional 20% discretionary rate relief. If not, you will only receive the 80% mandatory rate relief from 1 April 2025. For example, national charities will only receive the 80% mandatory rate relief.