Revo calls for business rates cap of 30% and annual valuations

Business rates,

Retail property lobby group Revo has called for a drastic cut in the level of business rates as part of its first stage response to the HM Treasury consultation on business rates reform in England.

In its response, Revo calls for the business rates multiplier to be capped at 30%, down from the current level of 51%, at the 2023 Revaluation which is estimated to reduce the business rates burden on physical retail by more than £3bn a year and help level the playing field with online retail.

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