Business rates increase
Date published: 03 November 2014
Paul Turner-Mitchell
Businesses face a hike in business rates next year.
September’s Retail Price Index of 2.3 per cent will be used to calculate the annual increase in commercial property taxes introduced next April, unless it is capped in the Autumn Statement in December by the Chancellor.
Local business rates expert Paul Turner-Mitchell says: “Next April should have seen new rateable values apply to all properties which would have redistributed the liability for business rates fairly among ratepayers according to rental value of their properties as of April 2013. Whilst shops, cafes, restaurants and pubs with a rateable value of less than £50,000 will continue to benefit from the £1,000.00 discount next year, a freeze would at least go a little way of addressing the inherent unfairness which has been created especially in Greater Manchester.”
Commercial property values for shops in prime rental areas have fallen on average by 31 per cent since the last revaluation in 2008 which came into effect in 2010.
Do you have a story for us?
Let us know by emailing news@rochdaleonline.co.uk
All contact will be treated in confidence.
Most Viewed News Stories
- 1First full Stalking Protection Order against a child in UK secured for family in Heywood
- 2Trio jailed for 20 years after shotgun fired at Rochdale house in broad daylight
- 3New energy facility with the ability to power 20,000 homes approved in Bamford
- 4Cast your vote in the local and mayoral elections today
- 5Legal challenge against recently approved development masterplan to build 165,000 homes in Greater...
To contact the Rochdale Online news desk, email news@rochdaleonline.co.uk or visit our news submission page.
To get the latest news on your desktop or mobile, follow Rochdale Online on Twitter and Facebook.