“A revaluation of business rates will no longer take place in 2021 to help reduce uncertainty for firms affected by the impacts of coronavirus.” – see GOV.UK – Business rates revaluation postponed.
Maughan Mitchell feel that this decision, much like the delayed 2015 Revaluation (delayed until 2017), although creates some ‘certainty’ for business in terms of rates payable, it creates manifest unfairness leaving those with properties which have fallen in value stuck with high rates bills.
We would have thought, particularly in the current climate, helping those businesses who are stuck with unjustifiably high rates bills, from the 2017 Revaluation, would be more important than ‘certainty’, particularly given the government has tended to shield ratepayers from changes in rates payable as a result of a revaluation. This decision also flies completely in the face the government’s wish to see more regular Revaluations.
Without further legislation the next Revaluation will now be 1st April 2022, but with the valuation date remaining as 1st April 2019. It will certainly be interesting to see if the government sticks with this, or decides on a further deferment, or other changes to the system prior to 1st April 2022.