Business Rates Update…

Mark Keirl, Head of Business Rates, and Director Roger Hannah & Co. provide an overview of the 2017 budget:

The Winners:

1. Those who no longer qualify for small business rates relief will benefit from a cap of £600
2. Pubs with rateable values less of £100,000 will qualify for a £1,000 discount
3. A fund of £300 million has been set up to help local authorities grant relief to those suffering from hardship.

The Losers:

1. Everyone who wants to appeal their rating assessment should do so, as the Chancellor has completely ignored industry calls to stop the proposed changes to the appeal system. The changes proposed will make it almost impossible to reduce an incorrect assessment.
2. Big businesses with RVs in excess of £100,000 face an overnight increase of 42% in rates payable.
3. All Local Authority Schools (LAS) pay full rates, yet free schools get 80% relief. Surely this inconsistency cannot be right when LAS is facing large budget shortfalls.