Government vows to make business rate valuations for pubs and hotels fairer
Summary
The government has promised to review and improve how business rates are valued for pubs and hotels in England and Wales to make the system fairer. An independent review will report back by March 2027, aiming to consider changes before the next revaluation in 2029.Key Facts
- Pubs and hotels faced higher business rate bills this year after pandemic relief ended and new revaluations took effect.
- Andy Burnham announced a 20% business rates cut for pubs, social clubs, and live music venues in England starting April next year.
- The review will be led by Jerry Schurder, an independent business rates expert, and will focus on valuation fairness but will not change this year's rise.
- The review is set to report to the Treasury by the end of March 2027.
- Hospitality businesses have struggled with rising costs for energy, food, wages, and taxes.
- Industry leaders support the review, saying it is needed to reflect the actual trading conditions of pubs and hotels.
- Around two pubs are closing daily in Britain this year, affected by financial pressures including higher business rates.
- There are calls to extend rate relief to other community businesses like independent bookshops.
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