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Business rates rises 'set to be capped' in Chancellor's Autumn Statement

04 Dec 2013

Chancellor George Osborne is set to introduce a cap on business rates increases in tomorrow's 2013 Autumn Statement, according to a recent report from the BBC.

The report follows recent calls by many of the UK's leading business groups to freeze rates, with some calling on the Government to completely reform the business rates system, which they believe to be outdated and burdensome.

According to the BBC, the Chancellor will announce the introduction of a 2% cap on business rates rises in England and Wales next year.

This compares with a planned RPI inflation-linked rise of 3.2%.

The Chancellor is also set to extend the Small Business Rate Relief scheme, in a bid to support smaller enterprises.

Following the Autumn Statement, we will be updating our website with the latest announcements, so be sure to visit the site for more information on the measures that could affect you and your business.