Reform of Business Rates

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Reform of Business Rates

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The British high street is a worldrenowned institution. We can’t just sit back and watch it wither away. This means ministers have to make business rates a fairer tax that doesn’t disproportionately burden smaller businesses and retail. Property values must be realigned and the business rates system needs reforming. At the moment it’s not fit for purpose.

The Grimsey Review are, therefore, calling on the government to:-

1)Reintroduce immediately the 2015 business rates
revaluation to realign property values and freeze
business rates from 2014.
2)Once revaluations have taken place any future
increases should be an annualised CPI rate rather
than a one-month snapshot.
3)From 2017 revaluations must be conducted annually.
4)Undertake a route and branch review to establish a flexible system that will reflect changes in economic conditions as they occur.

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