A small business owner has said that he fears his business could be “squeezed out” following the Government’s planned business rates double whammy next year.

Business rates are property taxes paid on commercial premises in the UK, such as shops, offices, pubs, storage units and holiday rentals.

From April next year, the Government will undertake a nationwide re-evaluation of business rates in England, including introducing a ‘supplementary multiplier’ on commercial properties with a rateable value of over £500,000.

This is expected to increase business rates for around 17,000 commercial properties across the country, in a bid to fund reducing multipliers for retail, hospitality and leisure properties under the £500,000 value.

A property’s rateable value is the amount it would rent o

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