Government plans to reform business rates system
BUSINESS NEWS - 14 Feb 2014
Business rates could be reassessed on a more frequent basis to ensure that the tax paid is 'in line with the state of the economy.'
The Chancellor, George Osborne, spoke of Government plans to review and reform business rates in the Autumn Statement last year and offered the equivalent of £1.1bn in measures to reduce the burden on businesses.
Yesterday, the Government published its 'terms of reference' for the review, which will include changes to both the frequency and methods of valuation, as well as a reassessment of the organisations that are eligible for exemptions or relief.
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