Rating bulletin Q3 2024

A change of direction and emphasis?

With the new Labour Government firmly in place they have expressed a desire to replace the current business
rates system.

Their manifesto stated that the current rates system “disincentivises investment, creates uncertainty and places
an undue burden on our High Streets”. However, there is little detail on how the Government would reform the
system other than its promise to raise the same revenue each year (£30bn) and to “level the playing field” between the High Street and online retailers.

We expect there to be further information in the Budget. Areas that will be under consideration and where there may be announcements include:

1. The multipliers to be adopted to calculate the rate liability from 1st April 2025.
2. Changes to the appeal regulations.
3. A review of reliefs currently available against properties and sectors.
4. The introduction of a consultation paper on general anti-avoidance rules.

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