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)