Business rates reforms urged

Three out of five business owners do not know how their business rate valuations are calculated, new research has shown.

A survey by the Federation of Small Businesses (FSB) has revealed many companies wrongly believe their premises’ valuations are calculated by their local authority.

Small businesses also expressed their frustration that very similar premises seem to be valued differently, according to the FSB.

The body is calling for the system to be made more comprehensible.