Flexible Working: Business Rates
The question
To ask the Chancellor of the Exchequer, what consideration he has given to the potential merits of extending HRL relief to independent coworking spaces.
Answered by Department for Business, Innovation, Science and Trade
The Government has introduced new permanently lower tax multipliers for eligible retail, hospitality and leisure (RHL) properties. These new tax rates provide nearly £1 billion per year of support to the RHL sector and will benefit over 750,000 properties.
The definition of a RHL property is broadly the same as the definition used in the RHL business rates relief, which was devised by the previous Government. For consistency, we have kept the same definition.
The Valuation Office (VO) is responsible for valuing non-domestic property for business rates purposes. They are required to maintain up to date rating lists in England and Wales, and to carry out valuations in line with relevant legislation and case law.
Where the VO is required to determine the unit of assessment, it does so on a case-by-case basis, with all facts being considered. The VO will continue to monitor legal developments relevant to valuation of serviced offices and update its approach as needed.
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