Dear constituent,
Thank you for contacting me about reform of the business rates system.
I understand there is a great deal of interest in potential changes to the business rates. The business rates system is clearly an area of UK tax policy which requires re-examination to ensure that it minimises the burden on businesses as far as possible.
I therefore welcome that, alongside a 2023 revaluation to accurately reflect the impact of Covid-19, the Government has initiated a fundamental review into the business rates system as a whole.
The review’s aims reflect a desire to, amongst other considerations, address concerns about complexity, improve the targeting of reliefs, examine alternative methods of setting business rates multipliers and investigate how the billing process can be modernised and digitised.
Having completed its initial call for evidence in October 2020, I look forward to the outcome of the Business Rates Review to see what proposals we can implement to improve the system to help stimulate the recovery of British high streets following the economic shock of Covid-19.
Thank you again for taking the time to contact me.
Yours sincerely,
Richard Fuller MP