Business rates revaluation could boost Northern economy

The controversial business rates revaluation could encourage companies to swap premises in the South East for sites in the North, according to commercial law firm Brabners.

Critics of the revaluation say that it will lead to unsustainable tax increases in areas where property values have risen significantly, such as the South East.

“Major organisations such as RBS and the BBC have already relocated large parts of their operations to make the most of lower running costs. April’s revaluation is going to make Northern cities an even more attractive proposition for businesses of all sizes.”

He said: “The real problem arises for businesses that can’t easily move away from locations where rates rises make trading unsustainable. National retailers, with multiple branches, have the flexibility to exit those locations without a significant impact to their estate. Retailers with a small number of outlets, and that rely on high-street footfall, might be put in a more difficult position by the new rates.”