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Wales at Work

Business Rates Revaluation

24 November 2009

Every five years the value of business properties is reassessed - and the rates they pay changed accordingly.

The new rating system comes into force in April next year and while around 60 percent of companies will benefit paying lower rates the rest face higher charges -and some have received huge increases.

But many say the new rates are unfair - the Valuation Office Agency conducted the valuations in April 2008 - before the real property slump began.

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Presented by Nick Servini, Wales@work is a lively half hour covering issues important to everyone connected to the world of work.

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