9:39am Monday 22nd March 2010
By Manisha Mistry
BUSINESSES in St Albans are bracing themselves for a crippling hike in business rates - due to come into effect next week.
On April 1 the revaluation, which occurs across the country every five years, is set to be calculated and sent out to traders by St Albans District Council.
The business rates bill is worked out by the responsible authority using a rateable value which is provided by the Valuation Office Agency.
In January the Review reported on shop owners in Holywell Hill who are barely surviving through the recession.
Some fear a hike in business rates, which many are expecting, could spell the end of the road for their businesses.
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