ACS has welcomed the introduction of new legislation to reform
the business rates system to improve the accuracy of business
rates bills for local shops.
Introduced to Parliament on 29th March, the Non-Domestic Rates
Bill aims to deliver on the government’s long standing
commitments to increase the frequency of revaluations and make
the process of business rates valuations more transparent.
The Bill also confirms the introduction the improvement rate
relief to support investment in energy efficiency measures, as
well as changing the annual inflation index for business rates
from RPI to CPI, and kicking off the Digitalising of Business
Rates project.
ACS chief executive James Lowman said: “We welcome that the
government will finally deliver on major reforms to the business
rate system that have been promised for several years. A shift to
three yearly revaluations and more transparency of valuation will
increase the accuracy of bills and reduce the need for businesses
to enter the appeals process.”
“The introduction of the improvement relief will incentivise
convenience retailers to focus their investments on improving the
environmental impact of their premises and drive down their
energy costs.”
More information on the Bill, the supporting documents and its
progress through Parliament can be found at https://bills.parliament.uk/bills/3442
