Business rates modernisation 'encouraging' but government needs to go further, firms say

1st August 2022

Hospitality business owners have welcomed ministers' plans to update the business rates system, but have warned that newly-announced moves do not go far enough to help firms struggling with soaring costs and high tax burdens.

The Queen's Speech is always a chance for the government to outline key policy plans. An update to business rates was one of the takeaways for restaurants and bars from the 2022 speech day on Tuesday, alongside the permanent scrapping of pavement licensing red tape.

It was announced that in the next Parliamentary session ministers are planning to push forward with a bill aimed at modernising the business rates system. The "Non-Domestic Rating Bill" intends to reform the system where business premises' rateable values will be reviewed every three years rather than every five years from 2023.

The government also reportedly hopes these business rates changes will stimulate investment into the decarbonisation of properties.

See the full article at https://www.thecaterer.com/news/business-rates-modernisation-encouraging-but-government-go-further

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