Mark Tan comments on treasury review of business rates “cliff edges”
Following Chancellor Rachel Reeves’ announcement that the Treasury is reviewing business rates to tackle “cliff edges” and support small business growth, Spencer West Partner Mark Tan shared his perspective in Talking Retail , CoStar, Forecourt Trader, and Business Money.
Mark Tan, tax Partner at Spencer West LLP, said:
“Business rates are often described as one of the most burdensome taxes for small firms, so a review is long overdue. The way relief is withdrawn at a cliff-edge; for example, when a small business opens a second shop or office can mean an overnight jump in costs that discourages expansion.
“Looking at ways to smooth this is a welcome step, but it’s not yet clear whether the reforms will genuinely remove that barrier or just make a modest tweak.
“If relief is tapered, some firms will gain, but others (such as those currently paying nothing) could start facing bills for the first time. And even if cliff-edges are fixed, high street businesses will still face heavier costs than online rivals with little physical presence.
“That said, it is encouraging to see the Treasury take this seriously. If the review can deliver a fairer and more predictable system, it would give small businesses greater confidence to grow, and that’s exactly what the economy needs.”
The announcement underlines the government’s focus on modernising the business rates system and providing greater certainty for small businesses as part of broader efforts to stimulate growth.
Read Mark Tan’s full comments in Talking Retail, CoStar, Business Money, Forecourt Trader, and Convenience Store.
