Business
Big Yellow warns annual business rates bill to jump by £1.8m post Budget
Self-storage company Big Yellow has warned its annual business rates bill will jump by £1.8 million next year following measures announced in the Budget.
The business said it will be affected by an upcoming tax shake-up, which will see properties worth more than £500,000 taxed at higher rates.
Big Yellow said 27 of its stores will be affected by the change.
It told investors that it was expecting its annual rates bill for the next tax year, beginning in April 2026, to be almost £23 million, up by £1.8 million from its current bill.
The firm said it was appealing the rateable values of some of its stores.
Big Yellow operates self-storage units from 111 locations in England, Scotland and Wales.
In last week’s autumn Budget, Chancellor Rachel Reeves confirmed that a new business rates system will be introduced from the next financial year.
This will see rates multipliers lowered for retail, hospitality and leisure firms – funded by higher rates on larger commercial properties, including warehouses.It also means that firms with larger premises, like storage companies and supermarkets, will be hit with a property tax rise.
The Treasury said the move was designed to “rebalance the business rates system” and help smaller firms by putting more of the tax burden onto bigger operators.
Big Yellow has been the subject of a takeover approach from investment firm Blackstone, which confirmed in October that it was considering making an offer.
But it said one of its considerations was the potential impact of the UK Budget on the self-storage sector.
Blackstone is thought to be contemplating abandoning a potential bid for Big Yellow ahead of a December 8 deadline to make a formal offer, Sky News reported on Tuesday.
Shares in Big Yellow fell on Tuesday and were down by about 1% on Wednesday morning.
President Donald Trump said he’s considering sending the National Guard to U.S. airports, two days after the administration deployed Immigration and Customs Enforcement agents to several major U.S. airports following hourslong waits for travelers because of the partial government shutdown.
In a Truth Social post Wednesday, Trump blamed Democrats for the shutdown, which began Feb. 14.
“Thank you to our great ICE Patriots for helping. It makes a big difference,” he wrote in his post. “I may call up the National Guard for more help.”
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Monday, March 23, 2026.
Elijah Nouvelage | Bloomberg | Getty Images
More than 11% of TSA officers called out on Wednesday and over 450 have quit since the shutdown started, the Department of Homeland Security said.
Elevated absences of Transportation Security Administration officers, who are required to work though they’re not getting paid during the shutdown, have contributed to long lines at major U.S. airports, including in Atlanta, Houston and New York.
The DHS, which oversees both ICE and and the TSA, said the ICE agents will “support airports facing the greatest strain” but the department didn’t respond to requests for comment on what the ICE agents’ duties are. ICE agents are getting paid in the shutdown.
Airlines have been warning customers about potentially long security lines, while executives grow increasingly frustrated with lawmakers about the impasse. On Tuesday, Delta Air Lines said it suspended its airport escorts and other special services for members of Congress and their staff because of the ongoing partial shutdown of the DHS.
The shutdown comes as Democrats in Congress have demanded changes to how federal immigration enforcement operates in exchange for releasing DHS funding after two U.S. citizens were shot and killed by ICE officers in Minneapolis.
Low-income families are being offered help with the cost of food during the Easter holidays.
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