Rates rise to hit small businesses
Posted on 06 Apr 2016
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)
