Gerald Eve, a proactive Partner of the BCA, has released their latest Business Rates Update following the 2017 Autumn Budget.
The following statement was announced by Jerry Schurder, Head of Business Rates at Gerald Eve, this morning:
Autumn Budget 2017: Chancellor Delivers some Good News to Ratepayers
The Government has listened to some of the demands raised by businesses and measures were announced by the Chancellor in his Autumn Budget last week which will have a positive impact on ratepayers.
As we explain in our latest Business Rates Update these include bringing forward the adoption of CPI rather than RPI for annual Uniform Business Rate (UBR) increases, measures to reverse the so called “staircase tax”, the continuation for a further year of a £1,000 rates discount for pubs and a change from 5 yearly to 3 yearly revaluations from 2022.
Whilst these are good news for ratepayers we still face a position where business rates in the UK represent the world’s highest local property tax.
Jerry Schurder was also interviewed for Sky News alongside Wendy Nicholls, Tax partner at Grant Thornton: