Rates rise to hit small businesses

Posted on 06 Apr 2016
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 Rate rises to hit 120,000 small businesses

Nearly 120,000 small shops and pubs could be hit with business rate hikes of up to 15% next spring, experts have warned. The increases are expected in April as the rates are linked to September inflation figures, which saw the Retail Price Index increase by 3%. Ratings agency CVS said the Government"s own formula would see 24,000 small shops and pubs face rises from four to 9.99%, while some 96,000 will see rises from ten to 14%. Mark Rigby, of CVS, said: "The Chancellor must be bold with his upcoming Budget next month and freeze rate rises in April 2018."

Source:   The Sun (14/10/2017)

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