At last - Harrogate BID welcomes Government’s business rates review with note of caution

Businesses in Harrogate town centre may benefit from a review of business rates.

Harrogate BID has welcome the Government’s long-awaited business rates review but is warning there may be losers as well as winners.

Business leaders nationally, as well as closer to home in Harrogate have labelled the existing business rates system ‘fundamentally flawed’.

Widely blamed for the struggles of retailers, the problems on the high street and, even, for undermining the economy’s potential for growth, successive governments have put the issue on the back burner.

But – at last – Harrogate businesses owners and landlords will now able to discover what the rateable value of their properties from April 1, 2023.

Harrogate Business Improvement District (BID) welcomed the news of a review it has called for repeatedly – with a proviso.

Chair of Harrogate BID, Sara Ferguson said most businesses would probably end up paying less money.

“For a number of years, Harrogate BID has been asking the government to review business rates, and I’m really pleased this has now happened,” said Mr Ferguson.

“Looking at the Government’s website, it appears that the majority of the business have seen their business rates reduced, which will be a relief to many, particularly with the rise in fuel, raw materials and energy costs.

“And for those that have seen their rate rise, those at the lower end of the scale will still benefit from rate relief, with plenty of small business not paying anything at all."

Harrogate BID said businesses would also benefit from the £13.6bn business rates relief package announced by Chancellor Jeremy Hunt in last week’s Autumn Statement, which would cushion the changes.

But it might also affect BID’s funding from businesses who pay it a levy for its work in boosting the town centre.

The BID chair said: “It will also mean from April, some businesses who have been BID levy payers will no longer be so, whilst some, who have not been levy payers before, will now fall into that bracket.”

Businesses wanting to what their rateable value will be from April 1, 2023, can find out here, https://www.tax.service.gov.uk/business-rates-find/search

Further information about Harrogate BID is available from its website, http://harrogatebid.co.uk/