Spring Budget Statement
The following business rates measure has been announced:
Revaluations will till take place more frequently from the next review date, due in 2021. Revaluations will happen every three years taking effect in 2024.
Autumn Budget Statement
Business rate increases will be calculated using the Consumer Price Index (CPI) instead of the Retail Price Index (RIP) from 1 April 2018, two years earlier than planned. The CPI is generally lower than the RPI.
Government has announced the continuation of the relief scheme for pubs that have a rateable value below £100,000. Under the scheme eligible pubs will receive a £1,000 discount on their bill for a further year from 1 April 2018. The relief remains subject to state aid limits.
We will provide more information when the relevant legislation has been received.
Last reviewed: 19 - 03 - 2018