Business rates: delivering more frequent revaluations
This paper sets out the challenges and approaches to deliver more frequent business rates revaluations.
At Budget 2016 the government announced it will aim to introduce more frequent (at least 3 yearly) revaluations of properties in England for business rates purposes. This discussion paper sets out the challenges of delivering more frequent revaluations under the current valuation system; and alternate approaches including self-assessment and a formula approach.
The paper does not indicate a government preference and does not discount other options. The paper aims to enable stakeholders to consider the trade-offs of delivering more frequent revaluations against the merits and limitations of the current bespoke valuation system. Stakeholder responses are requested by Friday 8 July 2016.