Pubs and licensed premises are valued for business rates by the Valuation Office Agency (VOA) using ‘Fair Maintainable Trade’, a widely-established method. The VOA’s valuation guide has been agreed with the pubs sector.
Pubs and bars will benefit from the business rates discount of one third for small retailers from April 2019. This is part of our £1.5bn support package for the high street that was announced at Budget 2018.
All ratepayers are benefitting from recent rates cuts worth more than £13bn in total over the next five years. They include switching from RPI to CPI indexation, making Small Business Rate Relief more generous so that 655,000 of the smallest businesses pay no rates, and providing a £1,000 relief for small and medium pubs in 2017-18 and 2018-19. Budget 2018 also announced a freeze on beer duty, making a typical pint 2p lower than it would otherwise have been.