Everything You Need to Know About the Business Rates Consultation for 2021
As a business owner, you’re probably aware of the legal requirement to pay business rates. These are taxes paid on commercial properties and are charged by local councils in England, Scotland, and Wales. The amount of business rates you pay is determined by the rateable value of your property.
The UK government recently launched a business rates consultation for 2021. The consultation aims to gather views on how the business rates system can be reformed to better support businesses in the wake of the COVID-19 pandemic. In this blog post, we’ll cover everything you need to know about the consultation, its objectives, and how your business can participate.
What is the Business Rates Consultation for 2021?
The business rates consultation for 2021 is part of the UK government’s plan to reform the business rates system. It aims to address concerns raised by businesses about the impact of business rates on their operations, particularly in light of the COVID-19 pandemic.
The consultation seeks to gather views on a range of issues, including:
- The length of business rates revaluations
- The timing of business rates bills
- The use of technology in the business rates system
- The eligibility criteria for business rates relief
Why is the Business Rates Consultation Important?
The business rates system in the UK has long been a subject of debate and criticism. Businesses have raised concerns about the complexity and inflexibility of the system, which they believe hinders their ability to grow and develop.
The COVID-19 pandemic has exacerbated these problems, with many businesses struggling to pay their business rates bills due to reduced revenues and increased financial pressures. The business rates consultation for 2021 provides an opportunity for businesses to voice their concerns and suggest ways in which the system can be reformed to better support them.
How Can Your Business Participate in the Business Rates Consultation?
The business rates consultation for 2021 is open to all businesses in the UK. You can participate by filling out an online survey available on the UK government website. The survey consists of a series of questions related to the issues being discussed in the consultation.
In addition to completing the survey, you can also provide written submissions to the consultation team. This allows you to provide more detailed feedback and suggestions on how the business rates system can be reformed to better support your business.
Key Takeaways
The business rates consultation for 2021 is an important opportunity for businesses to have their voices heard on issues related to the business rates system. The consultation seeks to gather views on a range of issues, including the length of revaluations, the timing of business rates bills, and the eligibility criteria for business rates relief.
To participate in the consultation, you can fill out an online survey or provide written submissions. This allows you to provide feedback and suggestions on how the business rates system can be reformed to better support your business.
