Rates hike threatens 500 big high street outlets, trade bodies warn

Rates hike threatens 500 big high street outlets, trade bodies warn

UKHospitality and the British Retail Consortium (BRC) have called on the government to exempt hospitality and retail outlets from a proposed business rates surcharge that would apply to 5,000 high street properties with a rateable value above £500,000. The trade bodies warned that around 500 premises could be at risk of closure if the surcharge goes ahead. The affected sites employ about 120,000 people, whose jobs could be jeopardised by any clo…

500 Large High Street Outlets At Risk Of Closure, Due To Rates Surcharge - CLH News: Caterer, Licensee and Hotelier News - News for Pubs, Bars, Hotels and Restaurants

Share Post Share Email UKHospitality and the British Retail Consortium (BRC) have united to call on the Government to exempt hospitality and retail outlets from a planned business rates surcharge, which would see 5,000 high street properties over £500,000 rateable value affected by a higher tax rate. The trade bodies believe 500 premises would be put at risk of closure, if the surcharge was applied. These prope…