The combination of the end of a discount on rates and an increase in the rateable value of their properties has left many suddenly having to pay tens of thousands more each year.

The changes were not highlighted in Rachel Reeves' announcement on Wednesday, when she claimed she was introducing the "lowest tax rates since 1991" from next year.

Experts are warning a "hidden clause" in the Budget could "kill small businesses" (Image: Supplied/PA)

The full impact is only now beginning to dawn on many business owners, with some discovering the rateable values are increasing by up to 200pc in April.

The worst affected will be hospitality firms, as they have previously benefited from a rates discount designed to protect the sector.

One Norfolk businessman, who owns more than a dozen venues, said it will "kill small businesses".

Candy Richards, from the Federation of Small Businesses, said: “Behind the headlines, the reality is that many businesses have actually seen their business rates rocket."

WHAT ARE BUSINESS RATES?

Business rates are a tax charged on most non-domestic properties, such as shops, offices, pubs, bars and restaurants.

They are collected by........

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