Companies are facing rises of up to 25% in business rates after a revaluation of commercial properties rewarded small businesses at the expense of large retailers. Supermarkets are likely to face an average 12% rise in business rate bills, said the British Retail Consortium.

Businesses in London will be particularly heavily burdened by the new rates regime, which will start next year, as they are based on commercial rents in April 2008, when the property rental market was near its peak. They will also be subject to a Crossrail levy of an extra 2% if the property they rent has a rateable value of £50,000 or more in the new valuations.

The Times