12:57PM, Wednesday 16 January 2013
An awareness campaign on the impact of the Government's policy on business rates has been launched by members of the Maidenhead & District Chamber of Commerce.
The campaign aims to highlight the potential delay in the next rate revaluation from April 1, 2015 until April 1, 2017, which the chamber says could have huge implications for businesses.
The revaluation could have brought much-needed savings to the yearly bills of companies as rental values, which form the basis for business rates, have been on the decline for the past four years.
Current rates are based on the higher rental values from 2008, but new valuations based on 2013 figures were due to come in to effect in 2015.
The proposed delay is part of the Growth and Infrastructure Bill, which is currently being considered in the House of Lords.
The chamber is hoping to make businesses more aware of the impact of the bill and encourage them to lobby their local MP or look into the possibility of appealing their current rate.
Chartered Surveyor Mike Brown, of Thameside Surveying, is leading the campaign.
He said: "There's a lot of talk about how difficult and bad things are and businesses need some light at the end of the tunnel."
The Government claims the bill will help prevent unexpected hikes in business rates and ensure stability over the next five years.
More power over business rate retention is set to be devolved to local authorities as part of the Local Government Finance Act.See more business news
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