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Business rates – possible changes to what you will pay

Business rates will be changing on 1 April 2017 and this is likely to create some winners and losers: many London-based businesses will face sharp rate rises, although firms in the Midlands and the north will be largely unaffected or will see a reduction.

It has been seven years since all non-domestic properties in England and Wales were nationally revalued. The 2017 revaluation will be based upon rental levels at 1 April 2015 and will form the basis of business rates liability for the next five years.  The changes include an increase in small business rates relief to £12,000.

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