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Business rates revaluation delayed until 2023

empty street 545835 640The government has confirmed that business rates will not be revalued until 2023.

In May it said the 2021 revaluation would be postponed but gave no date when it would be rescheduled. 

Business rates will be revalued on 1 April 2023, based on values of 1 April 2021.

It also called for opinions on how the business rates system operates. ‘The government is aware that many businesses and stakeholders may need extra time to engage fully with all of the issues in the call for evidence and so is seeking responses in two phases. We welcome views on the multiplier and reliefs sections, by 18 September, to inform an interim report in the autumn. Responses on all other sections are invited by 31 October, ahead of the review’s conclusion in Spring 2021.’