BRC concerned over business rates review

BRC concerned over business rates review

The British Retail Consortium (BRC) and other business groups are to meet the Treasury this month to discuss concerns over the government’s proposed review of business rates, according to the Telegraph.

Chancellor George Osborne announced a business rates review in December. Trade bodies like the British Retail Consortium and the Booksellers Association had been calling for a review but the BRC, along with the CBI, the British Chambers of Commerce, and the Federation of Small Businesses are now concerned about the government’s comments that it will be “fiscally neutral”, which implies that reforms will not affect the amount that business rates generate for the Treasury, according to the article.

Helen Dickinson, director-general at the BRC, said: “A big question for business rates payers will be the definition of fiscal neutrality within the review and whether that’s within the current confines of business rates or more broadly across all taxes, and how it accounts for the recent adjustments to total income through special reliefs."

She added: “We would favour as broad a definition as possible to enable real flexibility as the review moves forward.”

The review is expected to continue until 2016.

Last month, the Booksellers Association (BA) called for the scrapping of business rates altogether for small businesses.

In a meeting at the House of Commons, c.e.o. Tim Godfray said he would like to see “small businesses removed completely from the financial and administrative burden of business rates”.