Treasury targets business rates to boost small companies’ expansion

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleChancellor Rachel Reeves has voiced concerns that the UK economy feels "stuck" as the Treasury unveils plans to overhaul the business rates system. The government is examining changes to the tax levied on commercial properties, with a focus on reforming small business rates relief rules to eliminate "cliff edges" that deter expansion. Under the existing framework, businesses opening a second property often lose access to small business rates relief, prompting calls for comprehensive reform from industry groups. High street retail leaders and hospitality groups have met with Ms Reeves, advocating for a significant shake-up following recent increases in business rates bills. The government is also considering altering how the tax is calculated to further minimise cliff edges and enhance improvement relief for businesses investing in properties. In fullRachel Reeves admits economy is ‘stuck’ as she confirms business rates overhaulThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

Raccontata daindependent.co.ukdailymail.co.uk