Business Rates Surcharge Threatens High Street Outlets
UKHospitality and the British Retail Consortium (BRC) are calling on the Government to exempt hospitality and retail outlets from a planned business rates surcharge.
This surcharge would affect 5,000 high street properties with a rateable value over £500,000, potentially putting 500 premises at risk of closure.
These properties employ approximately 120,000 people, whose jobs would be impacted by any closures.
The Government’s manifesto committed to reforming business rates and levelling the playing field for the high street.
Authors summary: High street outlets face closure due to rates surcharge.