As the Tory Party Conference maps out a post-Covid strategy, will the Chancellor radically reform business rates?
Commercial Property Advisors (CPA) is confident that, with £1 in every £8 of overall taxes collected deriving from property, there will be no dramatic dismantling of non-domestic rates.
Rishi Sunak is cautious by nature, and extremely sensitive to the parlous state of UK finances, as a result of post-pandemic emergency support for business.
In order to recoup the costs of the pandemic, Sunak would be highly unlikely to increase personal taxation, or VAT, for fear of alienating the Tory party's core supporters.
So where else can the Chancellor look for revenue?
There will certainly be some tinkering around the edges of business rates, to appease critics of this tax, and to respond to the full review due to report its recommendations imminently.
However, the revenue traditionally provided by rates is far too attractive to be endangered.
It remains the case that a firm's best chance of enjoying lower rates demands is via the Valuation Tribunal Service's appeals service.
And in order for any appeal to be taken seriously, the services of a qualified and experienced rates advisor are more than ever necessary.
With an enviable track record, throughout the pandemic, of winning revaluations and rebates for a wide range of clients, CPA is happy to offer further advice and help to businesses across the UK.
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