Eversheds comments on £1,000 cut in business rates for small retailers
James Batham, partner and retail expert at Eversheds, has commented on the cut in UK business rates, stating that retailers are unlikely to agree it goes far enough.
He said: ‘As has been predicted, communities secretary Eric Pickles has confirmed a £1,000 cut in business rates for about 300,000 small retailers, which was first outlined in the chancellor’s Autumn Statement.
‘Retailers are unlikely to agree that this goes far enough and will continue to argue that the government should bring forward its review of rateable values, which has been postponed until 2017.
‘We are noticing an exponential growth in rating challenges and unless a root-and-branch review of the entire rating system is undertaken in the short term, we foresee such challenges only continuing to accelerate.’
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