Business rates revaluation postponed
The Minister for Housing, Communities and Local Government has announced that the next revaluation for non-domestic rates in England will be postponed. The Non-Domestic Ratings List Bill was to have brought forward the next revaluation from 2022 to 2021, but it will not now proceed, given the uncertainty created by the coronavirus outbreak.
Communities Secretary Rt Hon Robert Jenrick MP said:
“We have listened to businesses and their concerns about the timing of the 2021 business rates revaluation and have acted to end that uncertainty by postponing the change.”
“Now is the time for us to continue to focus on supporting businesses affected by the pandemic, including through our unprecedented package of almost £10 billion in business rates relief.”
The government is continuing work on the fundamental review of business rates, with the key aims of reducing the overall burden on businesses, improving the current business rates system, and considering more fundamental changes in the medium-to-long term. The call for evidence for the review will be published in the coming months. The postponement comes on top of the government’s support package for business and workers during the economic emergency.