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Independent retailers welcome postponement of revaluation of business rates

Independent retailers have welcomed news that next year’s revaluation of business rates has been postponed. However, they are still calling for the business rates system to… View Article

GENERAL MERCHANDISE NEWS

Independent retailers welcome postponement of revaluation of business rates

Independent retailers have welcomed news that next year’s revaluation of business rates has been postponed.

However, they are still calling for the business rates system to be overhauled.

The news follows Communities Secretary Robert Jenrick’s announcement that the planned revaluation will now no longer take place as the government looks to end uncertainty for companies affected by the impact of the covid-19 pandemic.

Commenting on the announcement, the Federation of Independent Retailers president Stuart Reddish said: “On the face of it, this announcement seems to be good news but, in truth, the business rates system is broken and continues to do enormous damage to the businesses of independent retailers as they try to complete against online retailers who pay much less.”

”While the decision not to charge business rates this year was  extremely welcome, we want – and need –  HM Treasury to move quickly with regards to the business rates review announced by the Chancellor in the spring budget as soon as Covid is out of the way.   That way, retailers will be able to have certainty and a fairer system.”

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