Business rates cap will not go far enough for UK retailers, says Eversheds
In response to the UK chancellor’s announcement that the rise in business rates will be limited to two per cent, Philip Myers, real-estate dispute resolution expert at Eversheds, has said that retailers are unlikely to agree that this goes far enough.
Myers also said that retailers will remain hopeful that the government will bring forward its review of rateable values, which is currently set for 2017.
He added: ‘We are experiencing an exponential growth in business rates challenges. Unless a root-and-branch review of the entire system is undertaken in the short term, we foresee yet more litigation in this fast-evolving area and the continued proliferation of avoidance schemes.’
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