Re-evaluations of commercial properties will take place across the country on 1st April and business rates will be re-calculated based on the new property evaluations.
Although the Government has said that rates for ¾ of businesses will stay the same or fall, studies suggest that London will be hit by sharp increases.
In Hackney, businesses could face up to a 30% increase and Islington may see rates rise by 28%, according to Gerald Eve consulting group. Business rates have been revalued for the first time in seven years and are calculated on the rental value of the premises. The implications for local businesses, such as butchers, could be serious.
“Business rates are the latest threat to independent butchers in the UK and the recent measures announced in the Budget provided little comfort to businesses facing rates rises later this year,” said Aidan Fortune, Agri-Journalist, Meat Trades Journal.
“Despite all the threats being faced by butchers around the country, they are showing what sets them apart from the competition through innovation and reaching out to their communities during National Butchers’ Week.”
National Butchers’ Week, taking place from 13th to 19th March, is a chance for butchers to showcase their finest products and promote their trade.
It provides an ‘opportunity for butchers to develop a new product and come up with new recipes that shoppers can create at home.’
However, this year’s event is overshadowed by imminent increases in business rates. Local butchers, such as Turner & George in Islington, are concerned that hikes in rates will threaten their existence.
“The rates probably won’t affect us hugely, for a lot of family-run independents they could have a real impact. With the rise of supermarkets this is just an added threat to independent butchers.” – Jessica Wragg, butcher at Turner & George
Restaurateur Richard H. Turner (Executive Chef of Hawksmoor) and James George, founded artisan butcher’s shop Turner & George in 2013.
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HeadlineSmall businesses braced for butchering from increased rates
Short HeadlineLocal businesses butchered by rates hike
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Re-evaluations of commercial properties will take place across the country on 1st April and business rates will be re-calculated based on the new property evaluations.
Although the Government has said that rates for ¾ of businesses will stay the same or fall, studies suggest that London will be hit by sharp increases.
In Hackney, businesses could face up to a 30% increase and Islington may see rates rise by 28%, according to Gerald Eve consulting group. Business rates have been revalued for the first time in seven years and are calculated on the rental value of the premises. The implications for local businesses, such as butchers, could be serious.
“Business rates are the latest threat to independent butchers in the UK and the recent measures announced in the Budget provided little comfort to businesses facing rates rises later this year,” said Aidan Fortune, Agri-Journalist, Meat Trades Journal.
“Despite all the threats being faced by butchers around the country, they are showing what sets them apart from the competition through innovation and reaching out to their communities during National Butchers’ Week.”
National Butchers’ Week, taking place from 13th to 19th March, is a chance for butchers to showcase their finest products and promote their trade.
It provides an ‘opportunity for butchers to develop a new product and come up with new recipes that shoppers can create at home.’
However, this year’s event is overshadowed by imminent increases in business rates. Local butchers, such as Turner & George in Islington, are concerned that hikes in rates will threaten their existence.
“The rates probably won’t affect us hugely, for a lot of family-run independents they could have a real impact. With the rise of supermarkets this is just an added threat to independent butchers.” – Jessica Wragg, butcher at Turner & George
Restaurateur Richard H. Turner (Executive Chef of Hawksmoor) and James George, founded artisan butcher’s shop Turner & George in 2013.
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Although the Government has said that rates for ¾ of businesses will stay the same or fall, studies suggest that London will be hit by sharp increases.
