Is it time to scrap business rates?

They’re supposedly the scourge of high-street entrepreneurs – and they’ll be scrapped for good under a future Labour government, according to the shadow chancellor. But why are business rates the tax business leaders all love to hate?

by Peter Crush
Tax
Tax

It’s the big pledge (so far) of the Labour conference – the complete removal of business rates after 2023 (when the next re-evaluation is due), and unsurprisingly it’s gone down very well with the Federation of Small Businesses. 

According to its spokesperson Mike Cherry business rates are “regressive,” and it’s a tax that “hits firms before they’ve even made a pound in turnover.”

But are business rates really that bad?

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