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John Lewis to shoulder £15m rise in business rates for Oxford Street flagship

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John Lewis’ prized Oxford Street flagship will see its business rates tax rise 57 per cent from last year’s £12.68 million to £19.91 million under last year’s controversial revolution. According to real estate advisor Altus Group, the Oxford Street store will pay £41.01 million in business rates over the next 4 years of the business rates cycle, until the next revaluation in 2021. READ MORE: John Lewis rocked by 99% drop in HY profits That means John Lewis will be forced to pay an extra £14.82 million compared with the 2016-2017 tax levels, given the change in rateable value

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John Lewis to shoulder £15m rise in business rates for Oxford Street flagship

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