Prior to COVID-19 Government was looking at a long-term review into the overall future of business rates.
The next revaluation was due 2021 but on 6 May Government confirmed that this would be postponed to reduce uncertainty for businesses and that the next revaluation will take effect in 2023. To enable the 2023 revaluation to reflect the impact of COVID-19 more closely, this revaluation will be based on property values as of 1 April 2021.
The pandemic has had a significant impact on how business is done, particularly for organisations which rely on customers visiting them. The full impact of this will become clear over time. Whilst it is hoped that Government will continue to support businesses as far as possible we must recognise that it is also important to ensure that the tax system raises sufficient revenue to fund the services that have been essential parts of the pandemic response, as well as public services more broadly.
The Government has published a call for evidence on the review of business rates, its objectives for this review are:
- Reducing the overall burden on businesses
- Improving the current business rates system
- Considering more fundamental changes in the medium-to-long-term
The Government is keen to hear from businesses and business representative organisations, local authorities, ratings agents, others involved in the operation of the system and anyone interested in the business rates or the wider tax system.
The review is a lengthy document which poses 43 questions. Government is inviting responses to the reliefs section (chapter 2) and the multiplier section (chapter 3) of the review by 18th September. With responses to all other sections by 31st October.
We would encourage clubs to respond to the call for evidence.
You can submit responses online via this link which can also be accessed directly via the GOV.UK web page under the Business Rates Review Call for Evidence.
If your business requires any further information relating to this, or another legal matter, please contact the Legal team, via email: email@example.com or call: 023 8060 4223.