Covid 19 - What you need to know - Business rates revaluations delayed to 2022

A revaluation of business rates will no longer take place in 2021 to help reduce uncertainty for firms affected by the impacts of coronavirus, the Government has announced.

Communities Secretary Rt Hon Robert Jenrick MP said:

“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.

Now is the time for us to continue to focus on supporting businesses affected by the pandemic, including through our unprecedented package of almost £10 billion in business rates relief.”

The Non-Domestic Ratings (List) Bill 2019-20 had been introduced to bring the date of the next revaluation forward from 2022 to 2021, but this will no longer happen.

The revaluation will therefore revert to 2022, unless subsequent steps are taken to delay it.This would have had an impact on licensing fees in 2021 as certain licensing application fees are governed by the NDRV of a premises The government remains committed to frequent revaluations “to ensure that business rates receive bills that more accurately reflect up-to-date property rental values.”