ACS has welcomed the launch of a new inquiry into business rates, calling on the Treasury to look closely into how rates affect essential services like petrol forecourts and free to use cash machines.
The Treasury Select Committee has launched the inquiry into business rates to scrutinise how Government policy has impacted business. The Committee will examine how Business Rates policy has changed, including Business Rates retention, alternatives to property-based taxes, such as the proposed digital services tax, and how changes to Business Rates could impact businesses.
ACS chief executive James Lowman said: “We welcome this review into the outdated and unfair business rates system. The Treasury Select Committee should start by examining how business rates penalise retailers who invest and add new services to their offer. This tax on investment damages our sector and the UK economy.
“Petrol forecourt stores and free-to-use cash machines are particularly badly treated by the current system because they are rated according to a different system which taxes their usage and sales. The impact of business rates on the provision of these vital services should be a priority for the Committee and for the government.”
The full details of the Inquiry are available here
