044. But it also means large businesses will bear ever more of the burden
Because the total amount of money generated by the business rates tax system must remain constant, the Government’s decision to reduce the contribution of small businesses means that larger businesses must generate more. Where properties have a rateable value over £70,000 in 2017/18, the average business rates bill will rise by 7 per cent.
This increase is again mainly limited to the Greater South East. The average business rates bill for large properties will increase in just 12 cities, nine of which are London or its neighbours. Meanwhile Exeter is the only city in the bottom 10 not in the North or Wales.
Note: Properties were identified according to their rateable value in 2017/18. The business rates bill that each property was liable to pay for 2016/17 and 2017/18 was then compared on a weighted average basis.