There is a similar debate taking place in Scotland and Wales where rates are also being reassessed after April. Reality Check: Are there more winners than losers on business rates? Mr Coupe, the boss of the UK's second-largest supermarket chain, urged the government to undertake a wide-ranging review of the way businesses are taxed, highlighting changes in retailing culture. Mr Coupe said: â€śThe way it currently stands, there is an advantage for those without bricks and mortar operations, so there's a strong case for a level playing field in business rates and taxation more generally. â€śBusinesses like ours with lots of property and employees face a bigger burden than others.â€ť Referring to the revaluation plans, he said: â€śAs it stands, we could see High Streets face serious challenges and ultimately more closures. It could impact investment in places that most need it, in areas of the country where there is already a marginal call on investment.â€ť
How are business rates calculated? Rates are calculated by multiplying the rateable value of a property by a multiplier set by the government. But as property values change over time, rateable values need to be reassessed periodically â€“ usually every five years. However, this update to property values is two years behind schedule, making it a harder pill to swallow in areas where the price of real estate has been rising.
According to analysts, Sainsbury's will see its annual rates rise to 500m, up from 483m, while internet giant Amazon will see its bill cut. Pubs, NHS hospitals and hotels in some areas are also said to be facing increases in their business rates.