Labour has promised to reconfigure the entire business rates system according to the shadow chancellor Rachel Reeves. In an interview on the topic of business rates she claimed that it would be the “biggest overhaul of business taxation in a generation.”
Labour have also spoken of more frequent business rates re-valuations and reductions against rate demands and rate payments in cases where property values have declined. Labour have also stated they would like to reward businesses that occupy empty properties and businesses that invest in commercial property, specifically in decarbonisation and green technology.
The shadow chancellor has also said that the party would be reviewing other existing tax reliefs by targeting reliefs available to the wealthy, such as relief on buy-to-let properties. If elected the party plans to freeze business rates until the next re-valuation in 2023.
If you are a landlord or occupier requiring business rates advice or empty property rates advice, CPRA are specialists in all rating matters, including mitigation and appeal work. Feel free to contact our business rates department on 020 7770 8000 or email email@example.com.