London, 2017-May-08 — /EPR Retail News/ — The BRC, along with a number of other trade bodies, are co-signatories to a letter sent to the three political parties to make the case for fundamental reform of the business rates system.
The challenges businesses face as the UK negotiates its future relationship with Europe has made reducing the burden of business rates and fundamentally reforming the system even more critical. How the next Government decides to address the complexity and unfairness of the existing system is therefore a key question for businesses.
Fundamentally this means three things for the next Government:
- Look across the business taxation system to ensure fairness, and inventivise growth and investment.
- Increase the frequency of revaluations beginning in 2020 alongside a straightforward valuation process.
- Move business rates to CPI indexation beginning in 2018, with a flat rate beginning in 2020.
Signatories:
British Retail Consortium
British Chambers of Commerce
Federation of Small Businesses
Assoc. of Licensed Multiple Retailers
British Property Federation
British Beer and Pub Association
Association of Convenience Stores
Revo
Contact:
BRC Press Office
TELEPHONE: + 44 (0) 20 7854 8924
EMAIL: media@brc.org.uk
OUT OF HOURS: +44 (0) 7557 747 269
Source: BRC