Business Rates details in the Autumn Statement

The Key points relating to Business Rates are as follows:

Digital Comms:

A new 100% business rates relief for new full-fibre infrastructure for a 5 year period from 1 April 2017; this is designed to support roll out to more homes and businesses.

Business Rates:

To remove the inconsistency between rural rate relief and small business rate relief the Government will double rural rate relief to 100% from 1 April 2017.

The Multiplier:

The England UBR has also been amended in light of the RPI figure in September
The national non-domestic multiplier will be 46.6p (original announced 28th September 2016 at 46.7p) and the supplement for larger business will remain at 1.3p and result in a multiplier for larger business at 47.9p (was originally announced at 48.0p)

Transitional Arrangements:

The government is putting in place “exceptional measures” to help businesses with the 2017 business rates revaluation through the transitional relief scheme.
The transitional relief cap on large property increases adjusts from 45% next year to 43%, and from 50% to 32% the year after.
The proposed scheme can be seen in its entirety here .

After reading the figures, the Chancellor said “trust me, it is complicated”