Government Figures Show Overall Fall in Retail Business Rates Bills

The Government has published headline figures on the results of the revaluation of business rates, announcing that rateable values in the retail sector are set to increase by an average of 4.7% across the UK, although this is heavily influenced by a 26.2% increase in rateable values in London, with most regions in England and Wales seeing a decrease in their rateable values.

There is also due to be a reduction of 1.7p in both the small business and standard rates multiplier, which will lead to net decreases in most retailers’ business rates bills.

ACS chief executive James Lowman said: “The figures released today suggest that most retailers outside London will see a decline in their rates bills. However, as each premises is rated according to its own specific location, size and features, we do not yet know how the convenience store and forecourt sector are specifically affected.

“We still believe that rates system overall is flawed and should be changed to incentivise investment, and should track more closely to economic circumstances. We remain concerned that not all sectors are paying their fair share of business rates, and that stores with ATMs or those operating on petrol forecourts are attracting excessive rates bills, especially when compared to internet distribution facilities.”

The Government has also published options for amending the transitional rate relief system which aims to mitigate the impact of rates bill increases by staggering the cost over the next five years.

Mr Lowman continued: “We welcome the Government’s focus on the transitional rate relief system, and will respond to the consultation in due course seeking to ensure that retailers that are hit with significant increases in their rates bills can spread that cost in a manageable way.”

The full rating list is due to be published this Friday (30th September). ACS is encouraging retailers to get in touch to let us know how their rates bills are going to be affected, either by contacting us on Twitter @ACS_localshops or by email at or by calling the public affairs team on 01252 533009.

This entry was posted by Temp Access on Wed, 28/09/2016 - 14:12