Responding to the Transforming Business Rates: Interim Report, Helen Dickinson, Chief Executive at the British Retail Consortium, said:
“The business rates system is outdated, overly complex and economically damaging. This report offers a useful blueprint of various areas to be explored further that could help the business rates system function more effectively. Retailers will appreciate the Government considering how Improvement Relief can be enhanced, as well as considering how the functions of the VOA can be delivered effectively by HMRC.
“But for retail businesses, the most pressing question is the how government’s plan for a permanent business rates reduction for retail, hospitality and leisure (RHL) premises will be implemented. Currently, retailers account for 5% of the economy yet pay over 20% of the total business rates bill, which is why such reforms are desperately needed. Until we get clarity on these changes, which isn’t expected until the Budget, many local investments in jobs and stores are being held back.”
