Autumn Budget 2021 and fundamental review of business ratesWithin the chancellor's Autumn statement, the headline grabbing changes to the business rate system were announced.
The Trojan Horse of more frequent revaluationsThe Local Government Finance Act 1988 introduced 5 yearly rating revaluations, the first being 1990 and this quinquennial cycle continued until 2010.
Changes to the retail relief schemeThe British Retail Consortium have reported that there has been a growth in high street retail sales from April to June rising 28.4% from a year ago and up 10.4% from 2019.
COVID-19 MCC Appeals Ruled out by governmentIt has been reported by HM Treasury that government will legislate against appeals citing COVID-19 as a material change in circumstances (MCC).
Does the budget go far enough on business rates?The Chancellor delivered his budget for recovery this week. As expected, there was some help for business ratepayers, but not as much as was needed.