Budget Insights – Implications for Local Business & BIDs
- Garratt Business Park
- Dec 5
- 1 min read
Key national updates affecting businesses include:
New powers for local authorities to apply an "Overnight Stay" charge to support transport, infrastructure and visitor economy investment.
Minimum Wage increase from April 2026 — £12.71 for 21+, £10.85 for ages 18–21.
Retail, hospitality & leisure businesses may benefit from lower business rates (check eligibility locally).
2026 Business Rates Revaluation support package announced.
Low Value Import Relief abolished.
40% First-Year Allowance introduced for main rate assets.
5p fuel duty cut extended to August 2026.
Please note: The 2026 Rates Revaluation will not affect your BID levy billing up to 2029 – levy rates remain fixed at the 2023 Rating List Value.
