The Government has announced legislative changes to prevent the pandemic, and potentially other “market-wide economic changes” being used as grounds to support reduced rateable values. This is an unprecedented move which has brought an end to the hopes of thousands of ratepayers, both owners and occupiers, who hoped to achieve reduced business rates liability due to the impact of Covid-19.
Officially, the logic of the changes brought is to help those who are in the most need, however, roughly 15% of businesses are in the grey area. The latest report provides us with the vague definition of companies liable for the support. The Gov pledged to deliver £1.5bn in targeted relief to those businesses most affected by closure and changes in trading conditions as a result of the series of lockdowns over the last 12 months. CPA is behind any changes that can target the business’ most in need. As with most government decisions on business rates of late, the questions on how to reduce the huge back log of existing appeals already lodged with the valuation office, as well as how to mitigate the potential cost of thousands of new COVID appeals, we believe has now been answered!