Revaluations of business premises will take place every three years after 2022, the chancellor, Philip Hammond, has announced. The government will consult on the measures in the spring. In addition, budget documents say that councils will be fully compensated for any loss of income resulting from the chancellor’s decision to bring forward to 1 April 2018 the planned switch in business rate rises from RPI to CPI inflation. A further announcement will see the continuation of the £1,000 business rate discount for pubs with a rateable value of up to £1,000 for 2018/19.
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