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.
new video loaded: How Kharg Island May Change the Trajectory of the Iran War
By Peter Eavis, Gilad Thaler, Edward Vega, Lauren Pruitt and Joey Sendaydiego
March 25, 2026
Crude rose back above $100 a barrel as the US and Iran clashed over bringing the conflict to an end.
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Key Points
- JLL has a major footprint in the Middle East, managing and leasing properties in Dubai and Abu Dhabi in the United Arab Emirates and in Riyadh, Saudi Arabia.
- CEO Christian Ulbrich said the business impacts of the Iran war depend on how long the conflict lasts.
- “It’s a tragedy from a point that the region was on a really strong growth trajectory, and this is, at the moment at least, interrupted for the time being,” Ulbrich said.
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Video: How Kharg Island May Change the Trajectory of the Iran War
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