Property taxes to rise in April

HUGE rises in business tax are due in April thanks to the government’s “random” way of setting rates, a leading retail group said yesterday.

Commercial property taxes are based on the previous September’s retail price index (RPI), the British Retail Consortium (BRC) said.

The method is prone to volatile jumps in RPI, unfairly affecting businesses, according to the BRC.
In September RPI inflation was recorded at 4.6 per cent.

"An increase on this scale will undermine job creation,” said Stephen Robertson of the BRC.