Autumn Budget Statement
The following package of business rates measures have been announced:
Business rate increases will be calculated using the Consumer Price Index (CPI) instead of the Retail Price Index (RIP) from 1 April 2018, two years earlier than planned. The CPI is generally lower than the RPI.
Revaluations will take place more frequently from the next review date, due in 2022. Revaluations will happen every three years instead of every five. There will be a consultation on this proposal in the spring.
Government has announced the continuation of the relief scheme for pubs that have a rateable value below £100,000. Under the scheme eligible pubs will receive a £1,000 discount on their bill for a further year from 1 April 2018. The relief remains subject to state aid limits.
We will provide more information when the relevant legislation has been received.
Last reviewed: 24 - 11 - 2017