Non-Domestic Rates Bill brings ‘long overdue’ business rates reform

Independent retailers will receive more accurate business rate bills with the new legislation to reform the business rates system.

The ACS welcomed the introduction of the Non-Domestic Rates Bill, which was introduced to Parliament in the House of Commons on 29 March.

The bill confirms the start of the improvement rate relief, which will give retailers an incentive to invest in energy-efficient measures. The annual inflation index for business rates should also see a change from RPI to CPI, whilst the bill also means the start of the Digitalising of Business Rates project.

The new legislation aims to increase the frequency of revaluations and make the valuations process more transparent.

ACS chief executive James Lowman said: “We welcome that the government will finally deliver on major reforms to the business rate system that have been promised for several years. A shift to three yearly revaluations and more transparency of valuation will increase the accuracy of bills and reduce the need for businesses to enter the appeals process.

“The introduction of the improvement relief will incentivise convenience retailers to focus their investments on improving the environmental impact of their premises and drive down their energy costs.”

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