4th Nov 2014 06:48
LONDON (Alliance News) - Supermarkets in the UK could face the prospect of a huge rise in business rates next year, adding to the challenges in the industry is currently grappling with, The Daily Telegraph reported on Monday.
The rates bill for supermarkets, including Tesco PLC, J Sainsbury PLC, Wm Morrison Supermarket PLC and Asda Stores Ltd, owned by Wal-Mart Stores Inc, could rise by as much as 40% next year on the back of a revaluation of British property, the paper said, citing research by independent business rates expert Paul Turner-Mitchell.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11205573/Struggling-supermarkets-face-huge-increase-in-business-rates-bill.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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