Whilst the Chancellor of the Exchequer did leave some questions unanswered yesterday in the Autumn Statement regarding reform, he made it very clear he believes in retaining the business rates system. Like us, he recognises they have a legitimate place in our UK’s balanced basket of taxation, as opposed to what he described as the Opposition’s “reckless and irresponsible” plans to abolish the system. Raising over £25 billion per annum and representing a major source of local authority funding, he made it clear that collecting these monies from other sources would be untenable. Download our update of the key points below.
“The devil remains in the detail”