C-stores to see 10% business rates hike, but relief package shields them for now

Analysts say convenience stores will see their rateable values increase by more than 10%, but smaller independent shop owners will be protected from the increases by a rise in business rates relief.
Last week, the Chancellor put this up for eligible retail businesses from the current 50% to 75% from April 2023, up to a maximum if £110,000 per business.

The Valuation Office Agency (VOA), the government agency that updates the rateable value of all businesses, released the latest rates last week.

The rateable value produced by the VOA is the basis upon which local authorities calculate actual business rates bills, although a rise in rateable value does not necessarily mean business rates will go up by a similar amount, partly because of the various reliefs.

Businesses in England or Wales can get an estimate of their likely business rates bill online at https://www.gov.uk/find-business-rates

The site enables you to check the factual details held about your property, compare it with the rateable values of similar properties nearby and check how the valuation was calculated.

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