Revaluation of business rates scrapped

The revaluation of business rates will no longer take place in 2021, to help reduce uncertainty for firms affected by the impacts of coronavirus. 

A revaluation is the review of the rateable values of all business and other non-domestic property in England at a particular point in time.

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 have said they want to ensure businesses have more certainty during this difficult time.

The 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, is still continuing and the call for evidence for the review will be published in the coming months.

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