Government confirms business rates revaluation in 2023.

The Government has officially confirmed that the next business rates revaluation will take place in 2023.  

The two-year delay means the next revaluation will take effect in April 2023, and to reflect the impact of Covid-19, this revaluation will be based on property values as of April 1, 2021. 

The Treasury also launched a ‘Call for Evidence’ that seeks views on how the business rates system currently works, issues to be addressed, ideas for change and a number of alternative taxes. 

The government say they are aware that many businesses and stakeholders may need extra time to engage fully with all of the issues in the call for evidence and so is seeking responses in two phases, views on the multiplier and reliefs sections, by 18 September, to inform an interim report in the autumn. 

Responses on all other sections are invited by 31 October, ahead of the review’s conclusion in Spring 2021.

Responses to the Call for Evidence can be made here https://www.smartsurvey.co.uk/s/businessratesreview2020/  Alternatively, email your responses directly to BusinessRatesReview2020@hmtreasury.gov.uk

The full written Ministerial Statement can be found here https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2020-07-21/HCWS400/

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