The Government has announced it will be postponing the revaluation of business rates from 2015 to 2017.
The planned 2015 revaluation would have meant business rates being calculated at 2013 rentable values. Under the Government’s plans, the 2017 change will be calculated at 2015 rentable values, which are likely to be higher than 2013.
Ed Cooke, Director of Policy and Public Affairs comments on the Government’s decision to delay rating revaluation:
“The Government’s decision to delay the planned 2015 rating revaluation will have a very negative impact on retailers’ performance and high street resurgence. Business rates are currently crippling many retailers' margins and the 2015 revaluation would potentially have led to some positive readjustment.”
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