Public Houses: Business Rates
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of ending the use of the approved guidance on valuation of public houses and introducing a standard RV calculation method for businesses.
Answered by Dan Tomlinson
The Valuation Office uses the ‘Fair and Maintainable Trade’ methodology to assess public houses.
The Government recognises that a review of the methodology to value pubs for business rates purposes is needed. Therefore, the Government will launch a review which will explore how pubs are valued for business rates, and will engage extensively with valuation experts, businesses and their representatives.
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