Politics

Hackney Mayor's Business Rates Relief Update Shifts Support to Larger Employers in Shoreditch

Shoreditch residents operating small retail units on streets such as Brick Lane will pay full rates from April while firms with over 50 staff on City Road gain reductions under the revised local scheme.

By Shoreditch Policy Desk · Published 8 July 2026

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The Hackney mayor's office released updated guidance on 7 July 2026 for the Business Rates Relief Programme covering the 2026-27 financial year. The change narrows eligibility to premises above 2,000 square metres or employing more than 50 people, according to the council's published policy document.

This adjustment follows the council's adoption of the 2026 budget paper, which reallocates £3.8 million previously spread across 1,200 smaller premises. The move responds to a 12 per cent rise in commercial vacancy rates recorded in the 2025 Hackney Economic Survey for the Shoreditch ward.

Daily costs for local operators

Independent traders on commercial streets now face the full business rates bill. A 90-square-metre cafe on Brick Lane previously received £4,200 annual relief and will lose that amount. In contrast, a software firm occupying 2,400 square metres on City Road will receive a £28,000 reduction, the policy document states.

Residents who rent workspaces in shared buildings or run market stalls will see no direct change because the relief applies only to rateable properties listed by the Valuation Office Agency. Delivery drivers and gig workers based in the area will continue to pay standard vehicle charges at existing levels.

Timeline and application process

Businesses must submit new applications through the council portal by 31 August 2026. The legislation requires verification visits by council officers within 30 days of submission. Existing recipients whose relief ends will receive written notice by 15 July.

The council's finance team projects that 340 premises will qualify under the new criteria while 860 will receive none. Payments are scheduled to begin in the October 2026 billing cycle, with quarterly instalments listed in the budget paper.

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