Chancellor George Osborne unveiled the following today that: from 1st April 2017
From April 2020, the annual indexation of business rates multiplier will be switched from Retail Prices Index (RPI) to Consumer Prices Index (CPI).
The government will aim to introduce more frequent business rate revaluations (at least every 3 years) and will publish a discussion paper in March 2016.
Business rate bills in England to be standardised and ratepayers to have the option to receive & pay bills online by April 2017 and ensure that all local authority billing and collection systems link with HMRC digital tax accounts by 2022.
The government will consider the feasibility of replacing SBRR with a business rates allowance for small businesses.
Public lavatories – The government will allow local authorities in England to use their discretionary powers to use their discretionary relief to support publicly owned public lavatories from 1st April 2018.
Local Newspapers – The government will introduce a £1,500 business rates discount for office space occupied by local newspapers in England for 2 years from 1st April 2017.
For further information about how your business may be affected by these changes please contact…..
Howard Elliott MRICS IRRV
RICS Registered Valuer
Director – bdt
Tel: 01256 840777 / Mob: 07957 464759