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Retailers face a further £280m on business rates bills next year

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Retailers across the UK could face an extra business rates hike of £280 million next year, which could mean “fewer shops and fewer jobs”. Commercial property tax is poised for another revaluation in April and will be calculated using September’s retail price index (RPI), which has risen due to the fall in the pound’s value and rising inflation. According to the British Retail Consortium (BRC), the RPI is set to rise four per cent this month, driving a potential £280 million rise in business rates for retailers

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Retailers face a further £280m on business rates bills next year

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