Rural way of life threatened by business rates

The Times reports on the threat to rural business from the revaluation of business rates, which Tory MP for Montgomeryshire, Glyn Davies, predicts could lead to an uprising from rural communities. According to the Valuation Office Agency’s own figures, stables, vineyards and livestock markets are among those facing the biggest increases. New business rates take effect on April 1 and will update figures from assessments done in 2008, to assessments done in 2015. About 920,000 businesses will have their rates cut and 420,000 will see no change. However, 510,000 will see rises. The paper calls for a rethink of the system to calculate rental value and to revisit the exemptions for these taxes. Separately, Christian Ulbrich, global chief executive of JLL, has said stamp duty is distorting the housing market and makes building more homes prohibitively expensive for developers.

The Times, Page: 1-2   The Times, Page: 13   The Times, Page: 27   The Daily Telegraph

Posted 23/01/2017