Major reform of business rates system kicked into long grass again

14 October 2021

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A major reform of the Business Rates system appears to have been kicked down the road yet again, as reported in The Telegraph today (14th October, 2021).

“Government plans for a major overhaul of the controversial levy have been ‘thrown into the long grass’ and only smaller scale tweaks will be unveiled by Rishi Sunak, the Chancellor, later this month, The Telegraph has learned.”

This is another big disappointment for businesses after the original promise by the UK Government to respond to the detailed and constructive input of business and professional bodies to the fundamental review by Autumn 2020. The review process began in March 2020.

The RICS, IRRV and Rating Surveyors Association engaged positively in the consultation process and made constructive and realistic suggestions for change that would be to the benefit of all business rate stakeholders.

After two previous postponements, this is now to be delayed yet again to an unspecified future date. This news is extremely disheartening and makes one question the commitment to real reform.

The accumulated problems with the current system will not go away and we would hope the government will now prioritise a substantive response by the end of the year.

Cooke & Arkwright have been providing Newport City Council with rating advice for over 20 years. Andrew, Jane and Huw provide a personal and professional service and have an excellent knowledge of the Council’s assets which has enabled the Council to achieve substantial rate savings. A useful service offered is the status report which provides us with a snapshot of what appeals have been made and appeals outstanding throughout the life of the List. I would recommend Cooke & Arkwright Rating Services to any company wishing to procure up-to-date and professional rating advice.

Eirian Jones, Estates Team Leader, Newport Norse