New legislation to reform the business rates system has been welcomed by the Association of Convenience Stores (ACS).
ACS has welcomed the introduction of new legislation to reform the business rates system to improve the accuracy of business rates bills for local shops.
The Non-Domestic Rates Bill Introduced to Parliament will increase the frequency of revaluations and make the process of business rates valuations more transparent.
The Bill also confirms the introduction the improvement rate relief to support investment in energy efficiency measures, as well as changing the annual inflation index for business rates from RPI to CPI, and initiates the Digitalising of Business Rates project.
ACS chief executive James Lowman said: “We welcome that the government will finally deliver on major reforms to the business rate system that have been promised for several years. A shift to three-yearly revaluations and more transparency of valuation will increase the accuracy of bills and reduce the need for businesses to enter the appeals process.
“The introduction of the improvement relief will incentivise convenience retailers to focus their investments on improving the environmental impact of their premises and drive down their energy costs.”
