Lancashire firms are facing a potential rise in the business rates of up to 41% in April an expert has warned.
The prediction has come from Jonathan Young, head of northern business rates advice at property consultants Matthews and Goodman. The firm has offices in Haslingden, Manchester and Liverpool. The rise, due to be introduced on April 1, follows the Valuation Office’s recent completion of a nationwide revaluation of properties liable for business rates.Mr Young said: “Given everyone’s current focus on cost management, it’s important that business leaders don’t ignore the implications of this revaluation – because it’s only five months away.
“The reality is experts believe that the average rates bill in Lancashire will rocket up by around 41 per cent compared with an expected average increase across the country of 35 per cent and this at a time when every organisation is already suffering from crippling energy and staffing cost rises. “The anticipated rises are based on the rental values which vary according to location and property type. I strongly advise any ratepayer to seek advice from a business rates specialist to make sure that their position is clear.
How do they expect small businesses to afford this? Business rates are ridiculously high already.
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