06 May 2020
The move - following pressure from Bira and Altus Group - will help reduce the uncertainty for firms affected by the impact of Covid-19.
Legislation had been introduced to bring the next revaluation forward by one year from 2022 to 2021, but following the recent economic impacts of the coronavirus pandemic Ministers said they want to ensure businesses have more certainty during this time.
Andrew Goodacre, Bira’s CEO, said: “We are pleased the Government has decided to postpone the revaluation of business rates Bill. If it had gone ahead as initially planned, it could have been disastrous for the independent retailer at this point.
“Bira and the Altus Group asked the Government to reconsider, and this move shows that they are listening.”
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. Read more here