The road to rates reform needs a bridge to 2023
From today, 100% business rates relief in England ends. Eligible retail businesses will now be provided with 66% relief, capped at £2m per business, until 31 March 2022.
Commenting on the end of 100% business rates relief in England, Helen Dickinson, chief executive of the British Retail Consortium said: “While continued business rates relief is welcome, the simple fact is that the system is intrinsically broken. This limited relief will not gar far enough to support those retailers which were shuttered for months during lockdowns and are now starting to trade their way back.
“The government must now stand by its business rates review commitment to reduce the burden rates places on businesses and ensure that the system reflects current market conditions, not outdated valuations from 2015. The government must ensure there are no further delays to the outcome of the fundamental review and put in place bridging relief until we move to a more sensible system which takes account of market realities.”