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Business rates frozen for 2021-22

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  • 25/11/2020
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Business rates frozen for 2021-22
Business rates will be frozen for 2021-22 the government has announced as part of the Spending Review.

 

The government is undertaking a fundamental review of the business rates system and said it is currently considering responses to the call for evidence issued earlier this year.

As a result, it will not be increasing the business rates multiplier in 2021-22.

“The government has decided not to proceed with a reset of business rates baselines in 2021-22 and will maintain the existing 100 per cent business rates pilots for a further year,” it said.

“In order to ensure that any decisions best meet the evolving challenges presented by Covid-19, the government will outline plans for 2021-22 reliefs in the New Year,” it added.

Local Authorities will be fully compensated for the reduced income, which is estimated to be around £125m next year.

The total could grow to £575m if the move is maintained over the following four years.

 

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