"Following Rachel Reeves Autumn Budget, the self-storage company Big Yellow has warned their annual business rates will now soar by £1.8 million. The self-storage company said the Chancellor's up-coming tax hikes will see properties valued at more than £500,000 will be hit with higher taxes which will affect 27 of their stores. Big Yellow has a total of 111 locations in England, Scotland and Wales and from the next financial year the new business rates will start."
"The self-storage company said the Chancellor's up-coming tax hikes will see properties valued at more than £500,000 will be hit with higher taxes which will affect 27 of their stores. Big Yellow has a total of 111 locations in England, Scotland and Wales and from the next financial year the new business rates will start. Big Yellow told their investors they are expecting the new tax bill in April next year to be almost £23 million, compared to the current £1.8 million bill."
Big Yellow has warned that annual business rates will increase following the Autumn Budget. The Chancellor's up-coming tax hikes will target properties valued at more than £500,000 and will affect 27 of Big Yellow's stores. Big Yellow operates 111 locations across England, Scotland and Wales. The new business rates will take effect from the next financial year. Big Yellow told investors it expects the new tax bill in April next year to be almost £23 million, compared with the current £1.8 million bill. The change will materially raise the company's operating costs and reflects the revaluation of eligible properties.
Read at London Business News | Londonlovesbusiness.com
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