ACS (the Association of Convenience Stores) has highlighted the importance of transitional arrangements in advance of the business rates revaluation due in 2023 in a submission to the Department for Levelling Up, Housing and Communities.
In the submission, ACS makes a number of recommendations including:
- Deliver faster downward transition to businesses that have seen a reduction in their business rates bills
- Retain upward transitional rate relief for business that have seen an increase in their business rates bills funded through central government
- Continue to recognise small businesses in the transitional rate relief caps
ACS chief executive James Lowman said: “Transitional arrangements are important to smooth fluctuations in business rates at revaluations. A revaluation has not taken place since 2017 so the latest revaluation will result in big fluctuations in rates bills given the disruption that has occurred as a result of the pandemic and significant changes in consumer shopping habits over the last six years.
“We are pleased that the government is considering delivering a transitional rate relief scheme and would urge there to be further consideration of centrally funding upward transitional relief which would serve to bridge the gap to the business rates system moving to more frequent revaluations.”
The full submission is available here.
