The antiques trade in England and Wales is facing significant financial pressure as business rates changes introduced under the Labour government have led to substantial increases in tax bills for many independent emporiums. Dealers and industry representatives warn these higher costs, combined with rising energy expenses and growing online competition, threaten the future viability of numerous antiques centres.

Richard Reid, owner of Mannuccis Antiques Emporium in Dunstable, Bedfordshire, reported that his business rates have nearly doubled this year. This increase comes after the removal of pandemic-related reliefs and a rise in rateable values—the open market rental valuations used to calculate business rates. Since 2023, average rateable values across England and Wales have climbed by nearly 20 percent, with some town centres experiencing jumps of up to 70 percent, particularly in prime commercial locations.

Reid said he has chosen not to pass on the increased costs to dealers who rent space in his emporium, absorbing the higher expenses himself. However, he acknowledged the burden these changes impose. Mark Dodgson of the British Antique Dealers’ Association expressed concern that the growing tax liabilities could put the industry's future at risk.

At a larger scale, Robert Miller, director of Hemswell Antique Centres near Lincoln—the largest antiques centre in Europe with over 400 dealers—said his business is actively restructuring in response to escalating business rates, taxes, and overheads. Hemswell has submitted an appeal against its new, higher rateable value, but Miller noted that such appeals can take up to 18 months for resolution, potentially delaying any relief. He highlighted the centre’s strengths, including its scale, established social media presence, and international clientele, but stressed that starting a new antiques business under current conditions would be daunting. “I wouldn’t want to be starting a business today,” he said, warning that the changes could “destroy an awful lot of businesses.”

While Labour has introduced measures to mitigate the impact of business rates increases for pubs, restaurants, and hotels, there is currently no indication that similar support will be extended to the antiques sector. Andy Burnham, a Labour politician who has acknowledged that the party “got it wrong on business,” has suggested reconsidering the threshold at which smaller retailers start paying business rates, though specific support plans for antiques dealers have not been announced.