The notice records that Glen Carter and Joe Barry of RSM UK Restructuring Advisory LLP were appointed as joint administrators on 29 October 2026, in proceedings in the High Court of Justice, Business and Property Courts of England and Wales.

The notice describes the company's business as "Dispensing chemist in specialised stores". Its principal trading address is given as 213 St John Street, London.

Companies House records show the company was incorporated on 13 May 2002 and its most recent accounts, made up to 30 September 2025, were filed as small company accounts.

Companies House records list Allcures PLC as a person with significant control of the company. Allcures PLC entered administration with the same administrators, appointed on the same day, according to a Gazette notice published on 5 November 2026.

The notice does not give a reason for the insolvency.

Source: The London Gazette, notice 5245186, published 4 November 2026, notice 5246551, published 5 November 2026, and Companies House records. See also: how to send us your news.

The notice records that Joanne Milner and David Buchler of Buchler Phillips Limited were appointed as joint liquidators on 27 October 2026.

Its principal trading address is given as 29-31 Saffron Hill, London, EC1N 8SW.

Companies House records show the company was incorporated on 24 January 2017 and its most recent accounts, made up to 30 April 2024, were filed as group accounts.

Its business is listed at Companies House as management of real estate on a fee or contract basis.

The notice does not give a reason for the insolvency.

Source: The London Gazette, notice 5242714, published 2 November 2026, and Companies House records. See also: how to send us your news.

The notice records that Glen Carter and Joe Barry of RSM UK Restructuring Advisory LLP were appointed as joint administrators on 29 October 2026, in proceedings in the High Court of Justice, Business and Property Courts of England and Wales.

The notice describes the company's business as "Dispensing chemist in specialised stores". Its principal trading address is given as 27 High Street, Newhaven, East Sussex.

Companies House records show the company was incorporated on 23 June 1961 and its most recent accounts, made up to 30 September 2025, were filed as small company accounts.

Companies House records list Allcures PLC as a person with significant control of the company. Allcures PLC entered administration with the same administrators, appointed on the same day, according to a Gazette notice published on 5 November 2026.

The notice does not give a reason for the insolvency.

Source: The London Gazette, notice 5242814, published 3 November 2026, notice 5246551, published 5 November 2026, and Companies House records. See also: how to send us your news.

Separately, 970 solvent companies began members' voluntary liquidations in October 2026, up 80% from 539 in September 2026 and up 47% from 662 in October 2025. A members' voluntary liquidation is used to close a company that can pay its debts in full: it is a solvent closure, not a business failure, and these companies are not counted in the insolvency total. The notices do not give reasons for the closures.

Of the insolvent companies, 1,572 were creditors' voluntary liquidations, 303 were compulsory liquidations ordered by the courts and 146 were administrations. One company appears under two procedures in the month and is counted once in the total.

Administrations were up 18% from 124 on the month, creditors' voluntary liquidations up 1.9% from 1,542 and compulsory liquidations down 8.5% from 331.

Construction accounted for the largest number, 386, followed by accommodation and food services (286) and wholesale and retail trade (268). The sector of 17 companies could not be matched from Companies House records.

By region, London had the most, 470, followed by the North West (275) and the South East (259).

A further 729 winding-up petitions against companies were published in the month. A petition is a creditor's application to the court and does not by itself mean a company is insolvent.

How we count

Each company is counted once per procedure in the month, from notices published in the London, Edinburgh and Belfast Gazettes. Creditors' voluntary liquidations are counted from the resolution or the appointment of liquidators, compulsory liquidations from the winding-up order, members' voluntary liquidations from the resolution or the appointment of liquidators. These are counts of Gazette notices, not the Insolvency Service's official statistics, which are based on Companies House registrations and can differ.

Source: The Gazette insolvency notices and Companies House records, analysed by Small Cap News.

The next busiest firms were FRP Advisory with 77, Business Guardian with 57, Leonard Curtis with 55 and Leading Business Services with 46.

In administrations, the largest number of appointments went to FRP Advisory with 14, Begbies Traynor with 13 and Interpath Advisory with 10.

In creditors' voluntary liquidations, Begbies Traynor led with 178, followed by FRP Advisory with 62.

The Official Receiver, the officer of the Insolvency Service who deals with companies wound up by the courts, is named in 303 of the 304 winding-up order notices published in October 2026. It is shown separately and not ranked, because it acts by law rather than by appointment from a firm.

In members' voluntary liquidations, which close solvent companies and are not counted above, Begbies Traynor was appointed most often, 82 times.

How we count

One appointment is one company in one procedure in the month, from notices of administrators' and liquidators' appointments and resolutions to wind up in the London, Edinburgh and Belfast Gazettes. A firm is counted once per company however many of its practitioners are named; where practitioners from two firms are appointed jointly, each firm is counted. Firms trading through several regional partnerships are counted as one group. The office holder could not be identified from the notice for 241 appointments, which are not included in any firm's total. These are counts of Gazette notices, not the Insolvency Service's official statistics, which are based on Companies House registrations and can differ.

Source: The Gazette insolvency notices, analysed by Small Cap News.

The same administrators were appointed on the same day to five other companies, according to Gazette notices published between 3 and 5 November 2026. Companies House records list Allcures PLC as a person with significant control of four of them: Newhaven Pharmacies Limited, L. Cameron & Son Limited, Wellbrooke Products Limited and Preddy Newco Limited. The fifth, Hassengate EA Limited, lists Wellbrooke Products Limited as its person with significant control.

The notices describe the business of Allcures and of four of the five companies as "Dispensing chemist in specialised stores". The notice for Hassengate EA describes it as a dormant company.

The principal trading addresses given in the notices include 27 High Street, Newhaven, for Newhaven Pharmacies and 12-14 Broad Street, Seaford, for L. Cameron & Son, both in East Sussex. The notices for Allcures, Wellbrooke Products, Preddy Newco and Hassengate EA give 213 St John Street, London.

Companies House records show Allcures PLC was incorporated on 11 March 1999 and its most recent accounts, made up to 30 September 2025, were filed as full accounts. Its business is listed at Companies House as wholesale of pharmaceutical goods. Newhaven Pharmacies was incorporated in 1961 and L. Cameron & Son in 1964.

The notices do not give a reason for the insolvencies.

Source: The London Gazette notices 5246551 (Allcures PLC), 5242814 (Newhaven Pharmacies), 5242812 (L. Cameron & Son), 5245186 (Wellbrooke Products), 5242813 (Preddy Newco) and 5246549 (Hassengate EA), published 3 to 5 November 2026, and Companies House records. See also: how to send us your news.

Teamed's figures show that 25% of businesses hiring abroad for the first time in that period brought in someone at head, director, VP or C-suite level, compared with 11% in 2022. The firm said the pattern points to companies reaching for senior expertise from the outset rather than filling roles one by one as an overseas presence builds.

Smaller firms were more likely than larger ones to take this approach, with 23% of smaller businesses choosing a senior leader for their debut international appointment against 13% of large businesses. Teamed's co-founder, Tom Price-Daniel, said: "For smaller businesses especially, this could be a way to gain the experience and direction they need to grow internationally without having to build an entire team first."

Sales roles gain ground on engineering

The type of role being recruited internationally has also changed. Teamed's data shows sales and business development positions made up 22% of its Europe-based international hires in 2026, up sharply from 5% in 2022, while the share going to software and engineering roles dropped from 36% to 19% over the same period.

Price-Daniel said: "Four years ago, if a business hired abroad, it was usually hiring an engineer. Now it's more likely to be someone who sells."

Spain tops the list of talent sources

Spain was the single largest source of international hires recorded by Teamed in 2026, supplying 12.8% of them, ahead of South Africa on 7.9%. Spain also featured heavily as a starting point for businesses' overseas expansion, accounting for 15% of first international hires, level with Germany, while South Africa took 12% of first hires.

Teamed's figures also show the geographic spread of employers doing the hiring has widened. UK-based employers made up 79% of international hires recorded in 2022, but that share had fallen to 46% by 2025-26.

The figures are drawn from Teamed's own internal employment contract data covering 2022 to 2026, with year-on-year comparisons for 2026 based on the January to September period, extracted on 20 October 2026 and anonymised before analysis, the company said.

Source: Teamed; Free Press Releases (release issued by Teamed).

Calder, who held the title Chief Vision Officer at the firm, said she remains active in the same field and can still be contacted personally. She asked contacts to update their records with her personal email address and pointed them to her LinkedIn profile to follow her current projects. She said she would keep monitoring the Excalibur Press inbox for a while after the closure.

In her message, Calder thanked those who had supported the business. "Thank you for all your support for Excalibur Press' journey," she said.

She also said she hoped to continue working with contacts in a personal capacity in the future. "I hope that I can work with you personally again over the coming month(s) / year(s)," Calder said.

No further detail on the circumstances of the liquidation was given in her message.

This story is based on information sent to Small Cap News by Excalibur Press on 4 November 2026. See also: People and how to send us your news.

The Rossendale Trust provides supported living care for adults with learning and some physical disabilities in Macclesfield and Buxton. Through its Oakwood service it runs informal learning and leisure activities, while its WorkTaste scheme arranges supported work opportunities with local businesses.

The charity's Fashion Show & Christmas Market will be held at Shrigley Hall in Pott Shrigley on Thursday 12 November, featuring tenants and staff on the catwalk alongside Christmas market stalls where visitors can shop in support of the Trust. Doors open at 6.30pm, with the fashion show starting at 7.30pm, and tickets cost £12.50 per person, including a welcome drink.

Lorena Poltorac, who acquired Mail Boxes Etc. Macclesfield with her partner Jordan Scott in 2025, said she got in touch with the Rossendale Trust to find a practical way of supporting a charity in the local community. According to the company, the Trust was open to discussing how the two organisations could work together, and Mail Boxes Etc. has since been looking at the charity's printing requirements to find areas where it can offer better rates. Poltorac, who previously worked as a photographer, will also take photographs at the fashion show without charge.

Building a lasting link

Poltorac said the aim was for the partnership to continue beyond this event. "We want this to be an ongoing relationship, where we can help with the things they need as their events come around," she said.

She added: "The Trust does so much to help people build confidence and independence. We're pleased to play a part and hope more people will come along to the November event to support its work."

This story is based on information sent to Small Cap News by Mail Boxes Etc. Macclesfield on 2 November 2026. See also: People and how to send us your news.

The CMI said its research found that 58% of hiring managers had this suspicion, and that reaction to AI reliance during interviews was almost universally negative, with 98% of managers responding unfavourably to it.

The research also pointed to a broader rise in AI use throughout the recruitment process. The CMI said 90% of hiring managers reported a sharp increase in candidates using AI tools to write CVs or cover letters.

Despite this, the findings suggest managers still want recruitment to remain a human-led process. According to the CMI, 91% of hiring managers believe candidates should be told when AI is being used in recruitment, and the same proportion said employers need to check that AI is treating all candidates fairly.

Employers seek authenticity

Petra Wilton, CMI's Director of Policy and External Affairs, said AI use by job seekers can work against them if relied on too heavily. "AI can be a brilliant tool to help in your job hunt, but relying on it to do the heavy lifting is a fast track to rejection," she said.

Wilton said employers are not looking for algorithm-polished perfection, but want to see curiosity, resilience and an authentic willingness to learn in candidates. She added that over-reliance on AI, particularly among young people entering the workforce, risks stripping away the personality and transferable skills that make candidates stand out.

This story is based on information sent to Small Cap News by Chartered Management Institute (CMI) on 2 November 2026. See also: Data and how to send us your news.

According to HMRC, the measure increases the rate of first-year allowance (FYA) available for qualifying main rate expenditure from 40% to 50%, while reducing the main rate writing-down allowance (WDA) from 14% to 12% per year. The special rate WDA remains unchanged at 6%.

Why the change is being made

HMRC said the measure aims to support business investment by giving greater upfront tax relief to unincorporated businesses and those investing in plant and machinery for leasing, while also contributing to the government's objective of fiscal consolidation through the reduction in the main rate WDA. The note explains that the 40% FYA, introduced at Budget 2025, has fewer restrictions than full expensing and therefore particularly benefits unincorporated businesses and leasing investment.

When the rates change

The new WDA rate will apply for chargeable periods beginning on or after 1 April 2027 for Corporation Tax and 6 April 2027 for Income Tax. A hybrid rate of WDA will apply where a chargeable period begins before, and ends on or after, those dates. The increased FYA rate will be available for expenditure incurred from 1 January 2027.

Legislation and impact

HMRC said legislation will be introduced in Finance Bill 2026-27 to amend the Capital Allowances Act 2001, substituting 14% with 12% in section 56(1) and increasing the FYA rate from 40% to 50% in section 52(3). The note states the measure is expected to have a negligible impact on the administrative burdens of the 600,000 incorporated and unincorporated businesses who claim main rate WDA and the main rate FYA, with one-off costs limited to familiarisation and updating software.

HMRC added that for many businesses, main rate writing-down allowances are not relevant to future expenditure as this is covered by the annual investment allowance and full expensing.

Key facts - Main rate FYA rises from 40% to 50% for expenditure incurred from 1 January 2027 - Main rate WDA falls from 14% to 12% for chargeable periods from 1 April 2027 (Corporation Tax) and 6 April 2027 (Income Tax) - Special rate WDA remains at 6% - Measure expected to affect 600,000 incorporated and unincorporated businesses - Legislation to be introduced in Finance Bill 2026-27 - HMRC estimates IT system changes to support the policy will cost £3.3 million

Source: HM Revenue and Customs, Reduce the main rate writing-down allowance and increase the main rate first-year allowance, published 29 October 2026 (GOV.UK, full document: GOV.UK). See also: Funding & Grants and how to send us your news.

The company was also named London's Fastest Growing Profit-Led Firm. On the UK Fast Growth Index 2026 it ranks 10th in the UK Top 200 and fifth in the London regional list, with turnover of £57.8 million in 2025, according to the index. Cardaq announced the awards in a press release on 28 October 2026.

What Cardaq does

Cardaq provides card issuing and merchant acquiring services to businesses. Its issuing programmes support branded cards on Visa, Mastercard and UnionPay, and its acquiring services let eligible merchants take card payments. Cardaq Limited is authorised by the Financial Conduct Authority as an Electronic Money Institution (FRN 900088).

The company says it was founded in London in 2011. In an email to Small Cap News, its chief marketing officer, Alisa Remi, said Hugo Remi took control of the business in 2018 and began rebuilding it. Cardaq says it has two projects in development: Teido, a payments technology platform, and Pridepay, a consumer financial app and card programme for LGBTQIA+ people and their allies.

About the index

The UK Fast Growth Index is run by Ideas Community in partnership with UBS. It ranks independent UK businesses by percentage growth in turnover between 2022/23 and 2024/25. To qualify, firms need at least £250,000 of turnover in 2022/23 and £1 million in 2024/25, and the figures are checked against Companies House data or by the firms' accountants. The index lists the top 50 firms in each of seven UK nations and regions, plus a UK Top 200.

Combined turnover of the firms on the 2026 index rose from £4.3 billion in 2023 to £10.2 billion in 2025, an increase of 137%, according to the release.

Professor Dylan Jones-Evans OBE, founder of the UK Fast Growth Index, said: "Cardaq is a great example of the extraordinary talent and ambition we see in businesses across every part of the UK."

Other 2026 UK category winners include Lucky Egg, named UK Fastest Growing Company of the Year, and Applied Nutrition, the UK winner of Fastest Growing Profit-Led Firm. Neither the release nor the index gives Cardaq's profit.

Key facts

• Award: Fastest Growing Financial Services Firm (UK), UK Fast Growth Awards 2026, 22 October 2026
• Also: London's Fastest Growing Profit-Led Firm
• Turnover growth: 1,353.1% between 2023 and 2025
• Ranking: 10th in the UK Top 200, fifth in the London list
• Turnover in 2025: £57.8 million (UK Fast Growth Index)

Source: Cardaq press release, 28 October 2026; UK Fast Growth Index 2026, UK Top 200 and Awards 2026 winners. See also: Awards, London and how to send us your news.

According to HMRC, the changes are designed to stop firms losing all tax relief simply for exceeding an EIS investment limit. Instead, relief will remain available on the part of an investment that stays within the scheme's limits.

What is changing

HMRC said the rules will also allow SEIS investment to take place alongside EIS or VCT investment on the same day. They will stop late payment by one investor from affecting the tax relief available to other investors in the same share issue. The interest rules that apply when SEIS relief is withdrawn or reduced will be aligned with the equivalent EIS rules, and VCT rules will be amended so that any withdrawal of Income Tax relief is calculated using the rate that applied when the shares were issued.

HMRC said the changes follow a Call for Evidence on Tax Support for Entrepreneurs announced at Budget 2025, which closed in February 2026 and received 247 written responses. The government published its response at Budget 2026.

Why it matters for small firms

HMRC said the measure is intended to make the schemes simpler, more consistent and easier to operate, giving founders and investors greater certainty and reducing disproportionate outcomes caused by minor technical issues. According to HMRC, the changes are expected to affect fewer than 100 businesses and fewer than 100 individual investors per year, with a negligible impact on the Exchequer.

When the changes take effect

Most of the changes, including the EIS investment limit apportionment and same-day SEIS and EIS or VCT fundraising, will apply to shares issued, or VCT investments made, on or after 6 April 2027. The SEIS interest rule changes will also apply to shares issued from that date, with existing rules continuing for earlier shares. The amendment to VCT relief withdrawal rules will apply to disposals of shares issued on or after 6 April 2026. Legislation implementing the changes will be introduced in Finance Bill 2026-27.

Key facts - Most changes apply to shares issued or VCT investments made on or after 6 April 2027 - VCT relief withdrawal rule change applies to disposals of shares issued on or after 6 April 2026 - Call for Evidence received 247 written responses, closing in February 2026 - Expected to affect fewer than 100 businesses and fewer than 100 individual investors per year - HMRC estimates IT system changes will cost £400,000 - Legislation to be introduced in Finance Bill 2026-27

Source: HM Revenue and Customs, Changes to the Seed Enterprise Investment Scheme, Enterprise Investment Scheme and Venture Capital Trusts, published 28 October 2026 (GOV.UK, full document: GOV.UK). See also: Funding & Grants and how to send us your news.

The same Budget halves the lifetime limit on Business Asset Disposal Relief (BADR), the relief many owners use when they sell up, from £1 million to £500,000 for disposals on or after 6 April 2027. A new Founders' Relief, with a 10% Capital Gains Tax rate on up to £10 million of lifetime gains, starts on the same date but only for companies with at least £10 million of turnover.

What changes

HMRC's overview of tax legislation says people whose trading and miscellaneous income is fully covered by the allowance "will no longer have to declare or pay tax on this income". The Self Assessment reporting threshold for trading income also rises to £3,000. Both changes will be made in Finance Bill 2026-27.

The documents published so far do not say how many people will benefit: the tax information and impact note for the measure was listed as "live shortly" when this story was written.

What it means for a small firm

Small Cap News calculation: someone who already uses their Personal Allowance in a job and takes £3,000 a year from a side business currently pays 20% basic rate tax on £2,000 (£3,000 less the £1,000 allowance), which is £400. From 2027 to 2028 the whole £3,000 is covered, a saving of £400 a year. A higher rate taxpayer would save £800.

The BADR change works the other way. BADR gains are taxed at 18%, against the 24% main rate for higher rate taxpayers. Small Cap News calculation: a higher rate owner with a £1 million gain pays £180,000 today, before the annual exempt amount. From 6 April 2027, with only £500,000 covered by the relief, the bill rises to £210,000, which is £30,000 more. The Treasury says three quarters of BADR claimants will still get relief on their whole gain.

Who Founders' Relief is for

The technical consultation sets tight conditions. The founder must have held 25% of the shares when the trade began, held shares for five years and been UK resident for five tax years. The company needs at least £10 million of turnover and 15 qualifying full-time employees in the year before the sale, and must pass two of three tests: 25% average annual turnover growth, 25% headcount growth, or at least £1.5 million of qualifying R&D spending. BADR claimed from April 2027 reduces the £10 million limit. The consultation closes on 30 November 2026.

Cost and reach

The Budget scorecard puts the cost of the trading allowance at £225 million in 2028 to 2029 and £180 million in 2031 to 2032. Founders' Relief costs £260 million in 2027 to 2028, rising to £300 million by 2031 to 2032. The BADR cut raises £60 million in 2027 to 2028 and £305 million by 2031 to 2032.

Key facts

• Trading allowance rises from £1,000 to £3,000 on 6 April 2027
• Self Assessment trading income reporting threshold also rises to £3,000
• BADR lifetime limit falls from £1 million to £500,000 on 6 April 2027; the rate stays at 18%
• Founders' Relief: 10% CGT on up to £10 million of lifetime gains from 6 April 2027
• Consultation on Founders' Relief closes 30 November 2026

Source: HM Treasury, Budget 2026 (gov.uk), HMRC "Budget 2026: Overview of tax legislation and rates" (gov.uk), HM Treasury "Founders' Relief: technical consultation" (gov.uk) and the response to the Tax Support for Entrepreneurs call for evidence, published 28 October 2026. See also: Data & Surveys, Funding and how to send us your news.

The Treasury says the rise adds £910 a year to a full-time worker's gross pay and will benefit around 2.3 million workers. The government has accepted the Low Pay Commission's recommendations in full.

What changes

All the statutory rates rise by the same 3.9% on 1 April 2027:

• National Living Wage (21 and over): £12.71 to £13.21 an hour
• 18 to 20-year-olds: £10.85 to £11.27 an hour
• 16 to 17-year-olds and eligible apprentices: £8.00 to £8.31 an hour
• Accommodation offset: £11.10 to £11.53 a day

The Overview of Tax Legislation and Rates keeps employer National Insurance at 15% above £96 a week for 2027 to 2028, with 0% on earnings up to £967 a week for staff under 21 and apprentices under 25. The Employment Allowance stays at £10,500 per eligible employer. As previously announced, these thresholds stay at 2026 to 2027 levels until the 2030 to 2031 tax year.

What it means for a small firm

The Treasury's £910 figure, over 52 weeks, implies 1,820 hours a year, or 35 hours a week. We use that assumption below.

Small Cap News calculation: a full-time worker on 35 hours a week earns £23,132.20 a year at £12.71 and £24,042.20 at £13.21. Employer National Insurance on that worker rises from £2,721.03 to £2,857.53. Each full-time National Living Wage employee therefore costs £1,046.50 more a year: £910 in pay and £136.50 in employer National Insurance.

For a firm with five such staff, the wage bill rises by £4,550 to £120,211. After the £10,500 Employment Allowance, employer National Insurance payable goes from £3,105.15 to £3,787.65. Wages plus National Insurance rise by £5,232.50, or 4.4%, to £123,998.65 a year.

Because the allowance is unchanged, it stretches less far. Small Cap News calculation: £10,500 now covers employer National Insurance for about 3.7 full-time National Living Wage staff, down from 3.9. A firm with three pays none; a fourth hire starts the bill.

A full-time 18 to 20-year-old gets £764.40 a year more and a 16 to 17-year-old or apprentice £564.20 more, with no employer National Insurance on either because their pay is below £967 a week.

Cost and reach

The Budget document says the 2.3 million figure is provisional until an impact assessment is published in early 2027. The documents give no count of employers affected, no breakdown by firm size or region, and no cost to business. Our figures leave out pension contributions and holiday pay.

Key facts

• National Living Wage: £13.21 an hour from 1 April 2027, up 3.9% from £12.71
• 18 to 20 rate: £11.27; 16 to 17 and apprentice rate: £8.31
• Employer National Insurance: 15% above £96 a week, unchanged for 2027 to 2028
• Employment Allowance: £10,500, unchanged
• Five full-time staff on the National Living Wage: £5,232.50 a year more in pay and employer National Insurance (Small Cap News calculation)

Source: HM Treasury, "Budget 2026" (chapter 4.5 and table 7.13) and "Budget 2026: Overview of tax legislation and rates", Annex A and paragraph 2.1, published 28 October 2026 (gov.uk); HM Treasury press release "Budget 2026: Breathing space for today, hope for the future", 28 October 2026; Low Pay Commission, April 2026 rates. See also: Data & Surveys, Funding and how to send us your news.

What changes

The Budget document lists four changes for premises in England from 1 April 2027:

• higher Small Business Rates Relief thresholds for qualifying RHL properties, kept under review alongside the 2029 revaluation;
• a real-terms freeze on RHL bills in 2027 to 2028 and 2028 to 2029, with bill increases capped by CPI inflation. The cap does not cover increases from improvements to a property or the loss of other reliefs;
• a one-year extension of the 2026 Supporting Small Business scheme to ratepayers who received the 2023 scheme, covering around 37,000 small and independent ratepayers with protection worth an average of £3,000;
• vape shops lose the RHL multipliers and Small Business Rates Relief, and adult gaming centres lose the RHL multipliers.

The freeze is partly funded by extending the 1p Transitional Relief Supplement for two years. It is paid by properties whose bills rise by less than the transitional caps, or fall.

The Treasury says an extra 3,500 pubs, 3,900 restaurants, 2,200 cafés and 1,700 hairdressers and beauty salons will pay nothing from April 2027, and around 110,000 RHL properties will see bills fall.

What it means for a small firm

The official small business RHL multiplier for 2027 to 2028 is 39.7p, up from 38.2p. In this Small Cap News calculation, bills are for 2027 to 2028 before transitional caps and other reliefs, assuming a straight-line taper between £18,000 and £21,000, as now:

• Rateable value £15,000: £5,955 (15,000 x 39.7p) under the old thresholds; nothing under the new ones.
• Rateable value £18,000: £7,146 before; nothing after.
• Rateable value £19,500: £7,741.50 before; £3,870.75 after (50% relief).
• Vape shop, rateable value £12,000: nothing before; £5,364 after, on the 44.7p small business multiplier with no relief.
• Adult gaming centre, rateable value £30,000: £11,910 before; £13,410 after, £1,500 more.

A property paying the 1p supplement adds £10 for every £1,000 of rateable value, so £600 a year at a rateable value of £60,000.

The documents set out no change to Small Business Rates Relief thresholds for offices, workshops or other premises outside retail, hospitality and leisure.

Cost and reach

The Budget scorecard puts the threshold rise at £315 million in 2027 to 2028 and £320 million in 2028 to 2029. The freeze and support package costs £10 million and then £230 million over the same two years, after the supplement. Removing reliefs for vape shops and adult gaming centres raises £10 million a year.

Business rates are devolved. The changes apply in England only. Scotland, Wales and Northern Ireland receive Barnett funding they may use for similar measures.

Key facts

• 100% relief threshold for RHL properties: £12,000 to £18,000 rateable value
• Tapered relief ends at £21,000, up from £15,000
• Start date: 1 April 2027, England only
• Around 70,000 more RHL businesses pay no rates
• 1p supplement extended for two years to help fund the freeze
• Vape shops and adult gaming centres lose reliefs from April 2027

Source: HM Treasury, Budget 2026 (gov.uk), Budget 2026 policy costings, HM Treasury press release "Budget 2026: Breathing space for today, hope for the future" and HMRC "Overview of tax legislation and rates" Annex A, published 28 October 2026. See also: Data & Surveys, Funding and how to send us your news.