Jesse Norman the Financial Secretary to the Treasury has announced that the next revaluation of non-domestic property in England will now take effect from 1st April 2023. It will based on an Antecedent Valuation Date i.e. property values as at 1st April 2021.
HM Treasury has opened a consultation on business rates and is seeking views on ‘how the business rates system currently works, issues to be addressed, ideas for change and a number of alternative taxes’. The consultation follows the government’s commitment to conduct a fundamental review of business rates at the Spring Budget 2020. It will consist of two phases: the first phase welcomes views on the multiplier and relief sections and closes on 18th September 2020, and the second welcomes views on all other sections and closes on 31st October 2020.
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