Press release
23 March 2022
Commenting on the Chancellor’s announcement to extend the existing business rates allowance for retail, hospitality and leisure properties, Gerry Biddle, business rates lead at Deloitte, said:
“A welcome relief for small businesses today as they stand to save a 50% allowance on their business rate bills. The average convenience store owner in England will benefit from a £7,000 saving based on a rateable value of £28,500.
“This relief was expected to end in a few weeks and will now continue to apply to all small business properties in England capped at £110,000.
“In addition, the Chancellor generated more welcome news for renewable energy plants as the planned business rates exemption has been fast tracked by 12 months from 1st April 2023 to 1st April 2022. The Valuation Office Agency, which is responsible for all business rate assessments in England, will now have to rapidly recalculate all such assessments in order to administer this extension.”
@DeloitteUK for live comment
Deloitte spokespeople
Deloitte has a range of spokespeople available to comment on today’s Budget. They can be reached on 020 7007 3333 or 0207 303 5054 or one of the following numbers:
• Debapratim De - Senior economist (07789 036 944)
• Amanda Tickel - Head of tax policy (07920 270 964)
• Rachel McEleney - Personal tax (07826 891 752)
• Alison Lobb – Corporate tax (07826 952 940)
• James Warwick - Employment tax (020 7303 6924)
• Andrew Clarke – Indirect tax (07824 895 798)
• Katherine Lampen – Climate change/sustainability (020 7303 6924 / 07920 270 964)
• Gerry Biddle – Business rates (07826 952940)
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