High street shops to face rates burden

Monday, 26 March 2012
UK High Street fashion retailers may see their business rates increase as some councils could impose extra charge on stores.

Days after the pleas of thousands of firms to cut business rates were ignored in the Budget, experts warn that councils could add to the growing burden on the High Street.

Despite intense lobbying by retail groups, business rates will rise by 5.6 per cent next month, dealing a crushing blow to small shops. Under the Localism Act, which became law last November, councils will be able to retain the business rates they collect. In addition, they may seek to charge supplementary rates on top of the Government-set levy.

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