Franchising, retail, business
16/03/2015
A "radical" review of the business rates system in England has been launched, with its findings due in time for the Budget in 2016.
The review "paves the way for changes" to the current system, which has been in place since 1988, the Treasury said.
However, the outcome is expected to be fiscally neutral, meaning that the total sum collected from businesses will not change.
The review was first announced in December's Autumn Statement.
"The time has come for a radical review of this important tax. We want to ensure the business rates system is fair, efficient and effective," said Danny Alexander, chief secretary to the Treasury.
The Treasury said the review will look at how firms use property, what the UK could learn from other countries and how the system could be modernised to better reflect changes in property values.
"Lots and lots of people have views about how the business rates system doesn't work, but as soon as you get into what an alternative system might look like there's much less consensus," Mr Alexander added, speaking to the BBC's Wake up to Money programme.
'Root and branch'
The announcement follows widespread criticism of the current system, where rates are charged to retailers based on the value of their shop or other commercial property.
The arrangement means that companies with similar turnovers can pay dramatically different sums for business rates because their properties have varying "rateable values" depending on the size and location of their premises.
Fonte:http://www.bbc.com/news/business-31897113?ocid=socialflow_twitter