Deloitte's team of tax experts, its chief economist and
public sector leader consider key potential announcements, the
economic outlook and the state of public finances ahead of this
year's Budget.
Business Rates
Business rates are devolved taxes, so any reforms announced by the
Chancellor would apply in England only. It would be open to the
Scottish government and Welsh Assembly to make their own
choices.
Bill Dodwell commented:
"Our expectation is that the government will retain the
business rates system broadly unchanged – despite lobbying
from major retailers for reductions. Around 70% of business
properties do not pay the tax due to exemptions for small
properties but for major retailers the cost typically exceeds their
corporation tax bills. The government announced last year that more
control over the system would be passed to local councils,
including the ability to increase the rate where the locality has
an elected mayor. We expect more details on
