Following Rachel Reeves Autumn Budget, the self-storage company Big Yellow has warned their annual business rates will now soar by £1.8 million.
The self-storage company said the Chancellor’s up-coming tax hikes will see properties valued at more than £500,000 will be hit with higher taxes which will affect 27 of their stores.
Big Yellow has a total of 111 locations in England, Scotland and Wales and from the next financial year the new business rates will start.
Big Yellow told their investors they are expecting the new tax bill in April next year to be almost £23 million, compared to the current £1.8 million bill.
