This site is in beta mode while we add the remaining policies. To feedback or help, please get in touch!
In Progress
Tax
Review business rates more frequently

We will make sure that revaluations are conducted more frequently to avoid large changes to the bills that businesses face, and explore the introduction of self-assessments in the valuation process.

Our Verdict

Business rates are a tax on non-domestic properties. The rate an owner pays depends on the property’s “rateable value” which is determined by the Valuation Office Agency. The rateable value is based on the value of the property and this is why we need revaluation – so that the values  reflect the current property market.

Currently, revaluation of rates takes place roughly every 5 years and the most recent revaluation came into effect in April 2017.

So has there been any progress in delivering this policy? In the Spring Statement 2018, Chancellor of the Exchequer, Philip Hammond, announced that the next revaluation of business rates will be moved forward to 2021 from 2022. After this, revaluations are to take place every three years.

With this announcement we can safely say this policy is ‘in progress’. If the next revaluation does take place in 2021 we will then mark this as ‘done’. Follow this policy for updates.

Want to know more?

Related policy

There's always room for debate

We’re serious about providing clear, up-to-date, non-partisan information. We focus on being consistent and fair in how we track policies, and always explain our reasoning. But there is always room for debate. So if you see it differently, we’d love you to tell us why or submit an edit.

Get involved!

Whether you are for or against this policy or just want to know more, it's never been easier to get involved and have your say. Try these for starters…

Join the discussion On this page, or Twitter, or Facebook. Democracy is better shared!
Follow this policy We'll send you email alerts every time something interesting happens.
Ask your MP Ask your MP to help you support or block this policy - write to them here.
Get the facts Sense about Science and Full Fact are great for evidence and fact checking.
Get ahead! The Simple Politics newsletter breaks it all down for you - before it happens!
Comments