By now you should have received notification of the new rateable value for your premises this value is used to calculate your business rates charge. If you ignore the notification you are virtually guaranteed to pay much higher business rates but those that appeal stand a good chance of keeping the rise at bay. So what is happening?
Property costs are often the main expense for UK businesses. On top of rents and service charges, occupiers have to pay occupier taxes. Known as business rates, compulsory contributions to the cost of local authority services are generally in the region of 40 per cent of the yearly rent.
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