£1.1bn business rates appeals fund ‘unaccounted for’ raises concern that businesses have been significantly overcharged since 2010

Mark Rigby, CEO of CVS Business Rent & Rates Specialists said;

“Government rules and tax law state that a Revaluation must remain revenue neutral and that no profit should be made by the Treasury.

“With so much discontent surrounding the amount businesses pay in rates, and given the fact that Government should not, by law, profit from a Revaluation, I would argue that the unaccounted for £1.1bn should be handed back to businesses as an overcharge.

“If this isn’t possible, then the Government could and should use the ‘windfall’ to reduce the pence in the pound businesses pay come next April in order to ease the burden of new rates bills soon to be landing on business’ doormats.”

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