2021 Business Rates Revaluation Postponed in England
On 6th May 2020, the Communities Secretary announced the next planned revaluation of all non-domestic properties, due in April 2021, will be postponed indefinitely.
- The Government has stated that the postponement is to ‘reduce uncertainty for firms affected by the impacts of the coronavirus’. The 2021 revaluation would have been based upon assumed April 2019 rental value
- The move follows consultation with businesses amid concerns over the timing of the next revaluation, designed to redistribute the burden of the tax according to shifts in rental value
- No indication has been given as to when the next revaluation will take place
More Frequent Revaluations
- The Government stated they ‘remain committed to frequent revaluations to ensure that businesses receive bills that more accurately reflect up-to-date property rental values’
- Plans to proceed with a ‘fundamental review of business rates’ are apparently unaffected and the call for evidence is due to be published in the coming months
Implication for Ratepayers
- Businesses will, therefore, continue to pay rates based upon assumed April 2015 rental value until another revaluation is carried out
- It is therefore important to ensure the level of assessment applied to your premises is fair and correct
- In some cases, there may be scope to challenge the level of rateable value on the grounds of a ‘material change of circumstances’ resulting from measures brought in as a result of coronavirus
Here to Help
If you occupy a commercial property in England, Scotland or Wales and would like advice/counsel on this complex issue, please contact us.