Drapers magazine, the voice of the fashion industry, looks at ways in which some sense of justice may influence business rates.
- Increase VAT by 1%;
- Base rates on turnover;
- Scrap the rates entirely;
- End index-linking of rate rises;
- Oblige all multinationals to pay corporation tax.
All these proposals have merit, but, in the view of Commercial Property Advisors (CPA), only rates based on sales, and at least a suspension of index-linking, are likely runners.
CPA believes that Government are still secretly enamoured of business rates, for their ease of collection, and their potential to reduce Westminster's grant support of local government.
But the number one reason why business rates are unlikely to be reformed soon is the inevitability of a general election in the very near future. Politicians' promises will not include tax rises on VAT, and the replacement of business rates requires a long period of political stability, based on a strong majority in the House of Commons.
Consequently, CPA welcomes enquiries from businesses wishing to challenge their present rates bills.
CPA's service is based on no win no fee, and it is well-versed in the complexities of VOA documentation. Its success rate in winning thousands for its clients means that it is far more likely to reduce rates bills than simply waiting for reform from our politicians, in these turbulent times.