A group of trade bodies have joined together to lobby the UK’s three leading political parties to reform the ‘complex’ and ‘unfair’ business rates system.
The group includes the British Beer and Pub Association (BBPA) and the Association of Licensed Multiple Retailers (ALMR) alongside the British Chambers of Commerce, the British Property Federation, alongside four other retail bodies.
The challenges businesses face as the UK negotiates its future relationship with Europe has made reducing the burden of business rates and fundamentally reforming the system even more critical, the group says.
It is calling for: an increase in the frequency of revaluations beginning in 2020 alongside a straightforward valuation process; and a move of business rates to CPI indexation beginning in 2018, with a flat rate beginning in 2020.
The letter states: ‘The business rates system will be a key factor in shaping investment and growth in the UK economy for decades to come. We respectfully ask the next government consider our views and to fundamentally reform business rates making them fit for purpose in the future.
‘Business rates will not cease to be an issue for businesses until we have a fair system of business taxation, which is internationally competitive and encourages investment.’