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Business rates reform

Business rates reform

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As the UK government prepares to publish a report on possible changes to business rates, the British Retail Consortium has published its four recommendations, which it says will boost UK High Streets and the economy.

The options are: 

1. Shifting the basis for taxing property by replacing the current system with a tax based on other measures, for example, energy usage
2. Rewarding employment by delivering a discount to the Business Rates bill based on a given value per employee, capped at an overall proportion of company rates bill
3. Supporting successful business by providing a discount to the Business Rates bill based on a percentage of Corporation Tax payment, capped at overall proportion of company rates bill
4. Modernising the existing system by introducing a simplified, banded revaluation system, with revaluations on a more regular basis
 

Do you agree or disagree with the above suggestions for changing the rates system? Would the boost business investment? Any other ideas for making the rates more business friendly?

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