MP's vote to delay business rates revaluation until 2023

MP's have approved a Bill which postpones the next business rates revaluation for England and Wales until April 1 2023.

The Non-Domestic Rating Bill (Lists: No 2) was unanimously approved by MP's without the Commons going to division.

The delay also moves the publishing date for the draft rating list from 30 September to 31 December in the year before the revaluation (2022).

In May, Communities Secretary Robert Jenrick MP confirmed that the revaluation of business rates will no longer take place in 2021 in order to help reduce uncertainty for businesses affected by the impacts of Coronavirus.

All businesses, including those in hospitality and leisure, have already been granted a one-year business rates holiday as part of government measures to prop up the economy during the Coronavirus pandemic.

In July, the Treasury launched a call for evidence from retailers, seeking views on how the business rates system currently works, any issues that need to be addressed and any ideas for changes.

The delay brings the revaluation in line with Welsh Government, who confirmed in August a new refreshed timetable for business rates revaluation in Wales, taking effect in 2023.