Unsurprisingly given current circumstances, the Government has decided to postpone this significant review of Business Rates until the autumn. Although this delay is slightly worrying it does, at least, provide the Government with a little breathing space after life returns to something bordering normality (we hope) this year.

This move, however, does nothing to address the perilous situation that our Retail industry (in particular) faces at the moment and given the prospect that any review is likely to take at least 6 months to conclude then hopes of a speedy resolution to any reform are, sadly, misplaced.

So what should the Government do? Opinions from industry and the profession support a comprehensive review and, not least, a move to lower the prohibitive rate of this tax down to a more acceptable level (some suggest around 35%). Further, there seems to be a groundswell of opinion to the extent that the “on-line” retail industry needs to be taxed in a manner that fairly represents the growing trend (and profits) of such organisations. Such a move would, on the face of it, enable a proportional cut in the Uniform Business Rate without damaging the “revenue neutrality” of the annual revenue generated.

Above all else, any reform should concentrate on “fairness”. If changes are required to this 400+ year old tax (better the devil that we all know rather than an unknown alternative?) then such changes should focus on ensuring that the tax is fair, equitable and transparent……requirements which the current system does not fulfil.

It’s time that Government also listened carefully to Rating experts within the profession who not only possess the required knowledge but also extensive experience of working within the system and which experience can shape a fairer, robust and reliable future for this tax designed more appropriately to help fund the provision of local services which we all rely upon.

Should you have any queries with regard to the review of Business Rates or require advice in relation to your business’ rates liability, please contact us at any time.