Industrial sector to feel the brunt of 2021 rates revaluation

The logistics and industrial sector is set to be affected by higher rates bills in 2021, while the beleaguered retail industry could benefit from a dramatic reduction.

Rateable values among logistics and industrial firms are expected to rise by 17.2% across England and Wales for 2021/22, according to the latest research from Avison Young.

Consequently, the rates liability of the sector is predicted to increase by 12.1% (£876m) on the previous year.

The new business rates revaluation will begin on 1 April 2021. After that, revaluations will take place every three years, rather than every five.