One of the more visible tax burdens for high-street and 
property-owning businesses is business rates.
In the run-up to the UK’s Autumn Budget on 26 November 2025, the government has already published an interim report suggesting changes to the rates regime—most notably a shift from the existing “slab” multiplier system toward a “slice” approach for successive bands.
Under the slab system, once your property crosses a rateable threshold, the entire value is taxed at the higher multiplier. The proposed slice system would instead apply higher multipliers only on the portion above that threshold—potentially softening sharp jumps in rates for properties that cross key bands.
For example, retail, hospitality and leisure businesses with rateable value under £500,000 are expected to benefit from revised reliefs, but large properties might see steeper multipliers. The government also previewed that the review will conclude in mid-2026, aligning with operational changes from April 2026.
What to Watch (and Model)
- Revaluation reliefs for small retailers: The Budget may confirm extended reliefs or transitional protections for properties that would otherwise see significant increases.
- Multiplier changes: Higher bands may face steeper multipliers; slice vs slab could change marginal liability calculations.
- Timing and alignment: Changes may align with the 2026 revaluation—a key year already on many property owners’ radar.
- Rateable value thresholds: Expectations that some thresholds may be re-indexed or restructured to future-proof for inflation.
What Businesses Should Do Now
- Review your property portfolio: Identify which sites sit just across thresholds—those are most exposed to reform.
- Run sensitivity models: Compare your rates under slab vs slice systems to prepare for potential jumps.
- Negotiate early relief: For smaller properties, begin discussions with local authorities or valuation officers about transitional or discretionary relief.
- Plan cash buffers: Rate increases may arrive in phases—reserve funds now for interim impact.
How Advisers Can Help
- Request property-rate modelling workshops.
- Formulate “what if” documents under alternative multiplier regimes.
- Collate sector case studies (e.g. retail chains, leisure, warehousing) to build political and practical cases.
- Pre-draft submission templates for clients to use in local relief or appeal processes.
Wrap-Up
Business rates affect a broad cross-section of UK firms, and the government’s proposals suggest significant change is coming. Use October to stress-test your exposure, run models and raise questions now so your clients aren’t caught off guard in November and April 2026.
We can help – let us do your sites’ rate impact modelling — book a 30-minute session