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Consultation on Business Rates...
A discussion paper titled 'Administration of Business Rates in England' has recently been released. A copy of the paper can be seen online.
In the Autumn statement 2013, the Government announced their support in aiming to reduce the burden of business rates on ratepayers. This discussion paper is the next stage where they are “seeking ideas and potential solutions” rather than proposing reforms.
This paper looks at five elements including:
- How property is valued
- How often property is valued
- How business rates bills are set out
- How business rates are collected
- How information about ratepayers and business rates is used
This may be particularly important to the licensed on trade as pubs tend to have a larger local business taxes than other high street retailers. Views are welcome from rate payers and other various interested parties up until 6 June 2014.