Whenever I am speaking with my clients and we discuss overheads of the business, almost without exception, the cost where there is most objection is business rates.
Whilst business owners accept rent and staff costs, no value is ever seen in paying business rates. It is just considered as another tax and businesses do not believe they get anything in return.
Therefore you might be surprised to learn that the amount British companies pay in business rates is increasing at almost the same level as council tax and fuel duty combined.
Analysis by the OBR indicates that between 2008 and 2018, business rates will grow by 41% (£9.4bn) to generate £32.3bn for the Treasury.
These figures come at a time when retailers and businesses are calling on George Osborne to extend a period of relief measures he put in place last year. We shall see what he has to say on the matter in his Autumn Statement scheduled for 3rd December.