Published: 7th May 2020

The Federation of Small Businesses (FSB) has welcomed the government’s decision to postpone the revaluation of business rates by a year. The Ministry of Housing, Communities and Local Government announced yesterday (6 May) that it intends to move the revaluation, which was due to take place in 2021, back by 12 months to help reduce uncertainty for firms affected by coronavirus pandemic. Legislation had been introduced to bring the next revaluation forward by one year from 2022 to 2021 but following the recent economic impacts of the coronavirus pandemic ministers want to ensure businesses have more certainty during this difficult time. ‘We have listened to businesses and their concerns about the timing of the 2021 business rates revaluation and have acted to end that uncertainty by postponing the change,’ said communities secretary, Robert Jenrick. ‘Now is the time for us to continue to focus on supporting businesses affected by the pandemic, including through our unprecedented package of almost £10bn in business rates relief.’ The move was welcomed by FSB national chairman Mike Cherry, who said it will ‘come as a relief to thousands of small … (To read the full article, subscribe below)