Pausing of business rates revaluation brings relief to small firms

Press Releases 6 May 2020

Responding to the announcement that next year’s business rates revaluation has been postponed

Responding to the announcement that next year’s business rates revaluation has been postponed, Federation of Small Businesses (FSB) National Chairman Mike Cherry said:

“This announcement will come as a relief to thousands of small business owners who are undergoing the toughest trading period they’ve ever seen.

“Small businesses will now be able to focus more of their funds on keeping their firms afloat and paying their employees. Every meaningful measure that can help the survival of small businesses is critical, and this move will help provide business owners with some certainty during these uncertain times.

“Although welcome, this development does raise questions about a revaluation in 2022, based on values already three years out of date. Any near-future revaluation must recognise the turmoil we’ve been through.

“We also have concerns that this move could benefit cowboy rating surveyors who take a cut out of any ‘savings’ businesses get – meaning another year of profits without any additional work. We urge businesses to report poor practice, and continue our efforts to drive it out completely."

About FSB

As the UK’s largest business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established over 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members, for its members. As the UK’s leading business campaigner, FSB is focused on delivering change which supports smaller businesses to grow and succeed.

FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in Government. Each year FSB also runs the UK’s Celebrating Small Business Awards. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.

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