Key Facts

• The next revaluation was originally scheduled to take effect on April 1, 2021.
• The valuation date is set at April 1, 2021, using existing powers in secondary legislation.
• The Bill changes the publication date of draft rateable values from September 30 to December 31 in the preceding year.
• Business rates are devolved policy areas with separate legislation for Northern Ireland and Scotland.
• The Bill is part of a package worth more than £23 billion over five years.
• Eligible businesses in retail, hospitality, and leisure sectors will pay no business rates in 2020-21.
• Doubling of small business rates relief has benefited 700,000 small businesses.
• There are 50,000 unsolved appeals from 2010 with councils diverting over £3 billion to deal with them.
• Blackburn Council lost £953 million in business rates income between March and July this year.
• Approximately £8 billion in business rates is collected by the Treasury from the high street.
• The proportion of empty shops reached over 10% last July, the highest level since January 2015.
• High street footfall has been declining at an accelerating rate of 2% year after year.
• Pre-pandemic, £1 in every £5 was spent online; during the pandemic, this rose to £1 in every £3.
• The rates holiday has been essential for retailers during the pandemic.
• Retail sector is a major employer of female workers, impacting poverty levels.
• A change from 50p to 30p uniform business rate could cost around £12 billion annually.
• 3 million people have not been helped by recent support measures.
• 4,500 individuals in Hall's constituency are without assistance.
• 3,000 to 4,000 second home owners in South Lakeland use a loophole to avoid taxes.
• The loophole costs the council tax payers of South Lakeland £6 million annually.
• The MP has significant interests in the business rates system due to his own business.
• Some nations conduct business rates revaluation annually rather than every three years.
• Business rates are fiscally neutral; some benefit from reductions while others see increases.
• Online shopping increased rapidly from 20% before the crisis to 35%.
• The Treasury is reviewing options including VAT increase and online sales tax.
• Raising VAT by 2p would generate £12 billion annually; 4p would raise £24 billion.
• About 5,000 premises across Bradford district will benefit from rate relief provided through the Non-Domestic Rating (Lists) (No. 2) Bill.
• Two small boroughs in central London—Kensington and Chelsea, and Westminster—account for 10% of all national business rates.
• Greater London accounts for one third of national business rates but only has one sixth of the total properties.
• Rateable values in England increased by 9.6%, while in London they rose by 23.7%.
• Heathrow is the largest single payer of business rates in Greater London.
• The revenue collected locally from business rates covers far less than the cost to local authorities dealing with consequences of having an airport.
• Local authorities face a multimillion-pound funding gap due to reductions in revenue support grant.
• Over £23 billion in support for businesses over the next five years.
• The Chancellor expanded retail relief to 100% during the pandemic.
• A £1 billion future high streets fund has been launched.
• The Bill sets the date of the next business rate revaluation on 1 April 2023.
• The small business rates scheme has removed 700,000 small businesses from rating.
• Over half of all ratepayers in England will pay no rates this year due to a £10 billion package.