The Chancellor, in the Budget Statement on 8 March, announced several measures designed to help businesses with the potential impact of the 2017 revaluation.
There is a considerable amount of detail still to be released. The proposed changes include:
- a reduction of up to £1000 for public houses
- a limit on any increase of business rates where a rate payer is no longer entitled to small business rate relief due to the rateable value increasing in 2017
- discretionary reduction scheme for exceptional cases where the rate payer has had a significant increase in the rateable value. This measure is subject to a Government consultation process which ends on 7 April.
We are waiting for confirmation of the legislation. Once confirmed we will contact all rate payers who may be affected. In the meantime you must make payments based on the bill you have received.