In a section about creating thriving high streets, the manifesto pledges to “cut taxes for small retail businesses and for local music venues, pubs and cinemas”. It said this would cost the government £350m over the next four years.
A Labour government would review the option of a land value tax on commercial landlords as an alternative to the business rates system which the manifesto says is “causing real issues for high-street retailers and others”.
The tax would be replaced in England with a commercial landowner levy based solely on the land value of land rather than capital value, which the party says would shift the burden of taxation from tenants to landowners.
With the General Election within a fortnight we will soon see whether any material differences emerge to the current business rates regime.
For further information contact:
Baker Davidson Thomas
Telephone: 01256 840 777
29th November 2019