Airports set for bumper business rates amid £1.4bn tax rise

Business rates revenues are expected to rise by £1.4bn, or 4.9%, to £29.9bn when new valuations come into force on Saturday April 1.

Airports, power stations and business headquarters are set to be hit hardest by property tax changes when new valuations come into force next week, according to research (Steve Parsons/PA) (PA Wire)

Airports, power stations and business headquarters are set to be hit hardest by property tax changes when new valuations come into force next week, according to research.

Revenues from business rates – the property tax on commercial buildings – are expected to rise by £1.4 billion, or 4.9%, to £29.9 billion when the changes take effect from Saturday April 1.

The annual review by real estate advisory firm Altus Group has revealed that a raft of firms will be hit sharply by the increase, which comes after a new revaluation regime was announced last year.