The Treasury has made further moves towards business rates revaluations taking place more frequently.
It has launched a consultation on revaluations of non-domestic properties occurring every three years rather than every five as part of its wider reform of the business rates system in England.
The Government previously introduced new legislation to increase the frequency of revaluations but this was delayed due to the pandemic.
Financial secretary to the Treasury, Jesse Norman, said: ‘Proposals set out in this consultation would mean that valuations more quickly reflect how the economy is performing, making the business rates system more accurate and responsive while balancing the burden for ratepayers.’
The Government’s fundamental review of business rates is expected to be published in the autumn.