3 Dec 2024·Treasury·Answered
AskedWith reference to paragraph 2.43 of the Autumn Budget 2024, HC 295, published on 30 October 2024, whether she has made an estimate of the average difference in the business rate bill of a hereditament eligible for r
ReplyWithout any government intervention, Retail, Hospitality and Leisure (RHL) relief would have ended entirely in April 2025, creating a cliff-edge for businesses. Instead, the Government has decided to offer a 40 per cent discount to RHL properties up to a ...
2 Dec 2024·Treasury·Answered
AskedIf she will publish an impact assessment for the proposed reduction in business rate relief for retail, hospitality and leisure businesses in England.
ReplyAt Autumn Budget 2024, the Government announced that it intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, with rateable values below £500,000, from 2026-27. This permanent tax cut will ensure that they...
2 Dec 2024·Treasury·Answered
AskedWhat assessment she has made of the potential impact of the decision to apply a higher multiplier to all properties with a rateable value of £500,000 or above on (a) large supermarkets and (b) department stores.
ReplyAt Autumn Budget 2024, the Government announced its intention to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, with rateable values below £500,000, from 2026-27. This permanent tax cut will ensure that they b...
2 Dec 2024·Treasury·Answered
AskedWhat guidance she has issued on whether (a) supermarkets, (b) hotels and (c) department stores with a rateable value over £500,000 will be liable to pay the new business rates rateable value multiplier surcharge fro
ReplyAt Autumn Budget 2024, the Government announced its intention to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, with rateable values below £500,000, from 2026-27. This permanent tax cut will ensure that they b...
2 Dec 2024·Treasury·Answered
AskedWhat estimate she has made of the additional revenue to be raised from properties with rateable value of £500,000 or above in order to be able to set lower multipliers for retail, hospitality and leisure properties
ReplyAt Autumn Budget 2024, the Government announced that it intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, with rateable values below £500,000, from 2026-27. This permanent tax cut will ensure that they...
2 Dec 2024·Treasury·Answered
AskedWhat assessment has the Valuation Office Agency made of the potential impact of the 2026 business rates revaluation on businesses, broken down by (a) special category code and (b) each English region.
ReplyThe Valuation Office Agency (VOA) has a statutory duty to compile and maintain accurate rating lists. The Non-Domestic Rating Act 2023 set the date of completion for the next revaluation as 1 April 2026. Valuation activity is now underway. In line with se...
2 Dec 2024·Treasury·Answered
AskedWhat is the (a) mean and (b) median Rateable Value of hereditaments over £500,000.
ReplyThe VOA regularly publishes official Non-Domestic Rating statistics on gov.uk here: https://www.gov.uk/government/collections/valuation-office-agency-non-domestic-rating-statistics. The number of properties over £500,000 in rateable value, broken down by ...
2 Dec 2024·Treasury·Answered
AskedWhat estimate she has made of the number of properties that the proposed new multiplier above £500,000 Rateable Value will apply to by (a) special categories and (b) sector.
ReplyThe VOA regularly publishes official Non-Domestic Rating statistics on gov.uk here: https://www.gov.uk/government/collections/valuation-office-agency-non-domestic-rating-statistics. The number of properties over £500,000 in rateable value, broken down by ...
2 Dec 2024·Treasury·Answered
AskedIf she will publish a list of the Rateable Value of each pub in England by (a) address, (b) local authority and (c) Rateable Value.
ReplyThe VOA makes the Non-Domestic Rating (NDR) lists publicly available. This is to allow a person “access to information to enable them to establish the state of the list” and is set out under paragraph 8(1) of schedule 9 of the Local Government Finance Act...
2 Dec 2024·Treasury·Answered
AskedWhat estimate she has made of the level of the (a) lower multiplier for retail, hospitality and leisure hereditaments from April 2026 and (b) higher multiplier for hereditaments above £500,000 Rateable Value; and wh
ReplyAt Autumn Budget 2024, the Government announced that it intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, with rateable values below £500,000, from 2026-27. This permanent tax cut will ensure that they...
2 Dec 2024·Treasury·Answered
AskedIf she will publish an impact assessment for the proposed application of a higher multiplier to properties with a rateable value of £500,000 or above.
ReplyAt Autumn Budget 2024, the Government announced that it intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, with rateable values below £500,000, from 2026-27. This permanent tax cut will ensure that they...
29 Nov 2024·Treasury·Answered
AskedWhether (a) football, (b) rugby and (c) cricket stadiums or clubs with a Rateable Value over £500,000 will be liable to pay the business rates Rateable Value multiplier surcharge from 2026-27.
ReplyAt Autumn Budget 2024, the Government announced its intention to introduce permanently lower tax rates for retail, hospitality and leisure (RHL) properties with Rateable Values below £500,000 from 2026-27. This permanent tax cut will ensure that high stre...
29 Nov 2024·Treasury·Answered
AskedWith reference to the Government’s non-school business rate changes announced at Autumn Budget 2024, whether she has made a (a) regulatory impact assessment or (b) tax information and impact note on (i) the changes
ReplyAt Autumn Budget 24, the Government announced its intention to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with Rateable Values below £500,000 from 2026-27. This permanent tax cut will ensure that they benef...
29 Nov 2024·Treasury·Answered
AskedWhat information the Valuation Office Agency holds on the average proportionate reduction in rateable value for special category code 226 (pubs) in the 2023 business rates revaluation.
ReplyStatistics on the change in rateable value of non-domestic properties as a result of the 2023 Revaluation are published here:Non-domestic rating: change in rateable value of rating lists, England and Wales, 2023 Revaluation (compiled list) - GOV.UK Table ...
29 Nov 2024·Treasury·Answered
AskedPursuant to the Answer of 16 October 2024 to Question 7830 on Council Tax: Wales, what each of the property attributes are under the headings dwelling type to bathroom count.
ReplyDescriptions of most of the property attributes can be found on GOV.UK here: www.gov.uk/guidance/property-attribute-data-pad#the-data-we-hold. Subsidised Housing Indicator - this indicates if a property has been purpose-built by a Local Authority, Housing...
29 Nov 2024·Treasury·Answered
AskedIf she will publish the (a) address, (b) local authority, (c) special category code and (d) rateable value of each hereditament on the business rates valuation list.
ReplyThe VOA makes the Non-Domestic Rating (NDR) lists publicly available. This is to allow a person “access to information to enable them to establish the state of the list” and is set out under paragraph 8(1) of schedule 9 of the Local Government Finance Act...
29 Nov 2024·Treasury·Answered
AskedWhat the methodological basis was for setting the proposed business rate multiplier surcharge for hereditaments above £500,000 rateable value at a level of up to 10 pence in the pound.
ReplyTo deliver our manifesto pledge, from 2026-27, the Government intends to protect the high street by introducing permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with Rateable Values below £500,000. This permanent tax cut w...
29 Nov 2024·Treasury·Answered
AskedWhat estimate she has made of the gross increase in business rate receipts from the 2026-27 business rate multiplier surcharge on hereditaments above £500,000 Rateable Value.
ReplyTo deliver our manifesto pledge, from 2026-27, the Government intends to protect the high street by introducing permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with Rateable Values below £500,000. This permanent tax cut w...
29 Nov 2024·Treasury·Answered
AskedPursuant to the Answer of 25 November 2024 to Question 14625 on Business Rate: Tax Allowances and with reference to line 18 of Table 5.1 of the Autumn Statement 2023, CP 977, for what reason the forecasts differ.
ReplyAutumn Statement 2023 (AS23) announced 75 per cent relief to Retail, Hospitality and Leisure (RHL) properties up to a cash cap of £110,000 per business. Based on local authorities’ Non-Domestic Rates form (NNDR1) returns, the static cost of RHL relief is ...
29 Nov 2024·Treasury·Answered
AskedWhat estimate she has made of how much business rates receipts in England will raise gross in 2025-26.
ReplyThe Office for Budget’s Responsibility’s (OBR) October 2024 Economic and Fiscal Outlook includes forecasts for UK business rates receipts. This is available online: https://obr.uk/docs/dlm_uploads/OBR_Economic_and_fiscal_outlook_Oct_2024.pdf.