2022 Business Rates Revaluation Brought Forward
The Chancellor of the Exchequer announced in his Spring Statement on 13th March 2018 that the next Business Rates Revaluation in England and Wales will be brought forward from 2022 to 2021.
This has come as somewhat of a surprise since the Business Rates Revaluations were changing to 3 yearly from 2022 in any case. The next revaluation will now be 2021, then 2024 and so on.
It is likely that the 2021 revaluation will be based on rental values at or around April 2019 (Brexit year) and therefore in practical terms, the rents the ratepayers agree to pay at or around that date will set the basis for rateable values to be applied from 2021.
We are awaiting an announcement from the Scottish Government.