"Some of Britain s most recognisable retailers and visitor attractions are bracing for dramatic swings in their business rates bills from next April, as the 2026 revaluation lands with what has already been dubbed across the sector as "Reeves' Christmas tax". Fresh analysis from global tax firm Ryan reveals a retail landscape increasingly defined by extremes, with destination-led and seasonal attractions facing some of the steepest increases, while several high-profile high street names enjoy substantial reductions."
"The land used for Winter Wonderland in Hyde Park will see its rateable value jump from £1.0m to £3.75m - an increase of 275 per cent. Despite transitional relief capping the first-year rise at 30 per cent, the site's business rates bill is still set to climb by £166,500 next year, from £555,000 to £721,500. Lapland UK in Ascot faces an even more dramatic shift."
"Nearby Camden Lock Market faces a similar jump, with its valuation rising from £660,000 to £2.27m, an increase of 244 per cent. Traditional retailers are not immune. Hamleys' flagship toy store on Regent Street is facing one of the largest increases among permanent retailers, with its rateable value rising 38 per cent and its business rates bill set to increase by £449,550 next year."
The 2026 business rates revaluation produces large swings in rateable values for retailers and visitor attractions. Seasonal and experiential venues face some of the steepest increases, with rateable values and bills rising by hundreds or even over a thousand percent in extreme cases. The land used for Winter Wonderland rises from A31.0m to A33.75m, and Lapland UK's value increases from A3150,000 to A31.87m. Major London markets such as Camden Stables and Camden Lock see substantial uplifts. Traditional retailers also face significant rises, exemplified by Hamleys' 38% rateable value increase. Transitional relief caps first-year rises but only delays the broader impact.
Read at Business Matters
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