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This March, businesses across England and Wales will receive a bill from their local authority for their ‘business rates’. For many businesses, costs are set to soar.
Business rates are a major burden for many firms, and with the recent VAT increase and an expected rise in interest rates, bigger business rates bills could not have come at a worse time.
What many firms won’t realise is that more than half of businesses may be eligible for a rebate and a reduction on their rates bill. This is because the new bills are based on an estimated property value and the ‘true’ value of the property is often considerably lower.
March sees another blow for local businesses. Alongside the recent VAT increase and the likely raising of interest rates, business rates are set to soar this month. However, it may not be bad news for all – as more than half of businesses may be eligible for a rebate.
So how can businesses find out if they’re paying too much on business rates?
Joining us to discuss this further is Mark Rigby, Chief Executive of business rates specialists CVS.
What does the research reveal about businesses in our area?
What are business rates and why are they going up?
How much are business rates set to go up by and how could this affect local businesses?
Why are some businesses paying too much?
What should businesses do if they think they are paying too much?
What should businesses do when their bill arrives?
Where can people find out more information?
