FlexSA Joins Call for Business Rates Reform
The Flexible Space Association is one of 40 trade associations, with the CBI, to put its name to a statement calling on the Chancellor to reform business rates.
Together, we are calling for action to:
1. Reduce the overall burden of the business rates system to unlock business investment in net zero and support levelling-up. Allow business rates liabilities to fall in line with property values, and without further increases in the headline rate, equivalent to a reduction in the uniform business rate for these businesses. Ensure firms can instantly benefit from any fall in property values following a revaluation, while maintaining a phased transition to a higher bill where property values increase.
2. Increase the frequency of business rates revaluations and ensure rates adjust quickly to economic changes to ensure business rates reflect firms’ ability to pay.
3. Create a ‘Greener’ business rates system to support the government’s net zero ambition, unlocking investment to make buildings more energy efficient and decarbonising property stock, starting with exempting green Plant & Machinery and new technologies that directly link to the ‘green’ agenda, including solar PV and heat pumps, from business rates.
The flexible workspace industry plays a vital role in the UK economy, supporting businesses of all sizes to grow at the pace which is right for them. We need to see business rates reform to ensure our sector continues to thrive.
14 October 2021
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