Thousands of businesses in England and Wales are set to see dramatic changes to the amount they pay in business rates, after the government has published the new “rateable values” of their properties.
Soaring property values in parts of London and the South East over the past few years mean that business rates there will be much higher. In areas where property prices have fallen, bills may be lower.
The way the changes will be introduced – with a cap on how much bills can rise or fall over the next few years – will help cushion the transition; so for many companies rates won’t change as dramatically as they would have otherwise.
But it is still being described as “the largest changes to business rates … in a generation”
Many of our businesses in the town will benefit from reductions in their valuations however there are some sectors which will experience an increase and businesses should follow the link below to assess what it means for them.