Shops and restaurants in London’s West End face a 'tax bombshell' of £500m under the imminent revaluation of business rates, Westminster City Council has warned.
The council said that the tax increase could scupper the city’s fragile economic recovery at a time when businesses need all the help they can get.
Westminster collects £1.2bn in rates every year, more than the City of London, Birmingham and Manchester combined.
Daily Telegraph
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