Co-working Space Faces Collapse Over Massive Business Rates Bill

The founder of a co-working space in East London, Hugo Warner, is battling a £400,000 business rates bill, threatening his companys survival. The Valuation Office Agency (VOA) re-rated his building as a single entity, eliminating small business rates relief for individual office units. Warner, who also founded Benugo coffee chain, launched a legal challenge, fearing this could set a precedent for the entire co-working industry. The Chancellor defends the VOAs approach, but Warner argues increased rates will be passed on to small businesses renting the space. Sixty office operators warn the policy change poses an existential threat to the sector.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.