Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to modernise the business rates system.

The Non-Domestic Rating (NDR) Bill, currently before the House, delivers a substantial set of reforms to the business rates system announced at the conclusion of the 2020 Review of Business Rates. The measures in the Bill will make business rates fairer for taxpayers, incentivise investment and decarbonisation, and improve the administration of the tax.

The NDR Bill delivers:

• More frequent revaluations, from 5-yearly to 3-yearly, to make the business rates system fairer and more responsive for ratepayers
• A new Improvement Relief to incentivise businesses to invest in their properties, and a Heat Networks Relief to encourage green investment
• A reform to Transitional Relief to remove the requirement for revenue neutrality
• Increased transparency in how rateable values are calculated

• HMRC’s Digitalising Business Rates programme
• Administrative reforms to make the system more efficient