Business rates (4)

Meeting: 
MQT on 2018-11-22
Session date: 
November 22, 2018
Reference: 
2018/3222
Question By: 
Andrew Dismore
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Please provide the number of rateable values in London under £51,000 by borough?

Answers

Answer for Business rates (4)
Business rates (4)

Business rates (4)

Answered By: 
The Mayor

The estimated number of hereditaments on the draft 2017 local rating list with a rateable value below £51,000 in London is set out in the attached table broken down by billing authority.

However, the relief scheme announced in the 2018 Budget only applies to eligible retail premises which on the Government’s definition extends to pubs, cafes, restaurants and related services (e.g. petrol stations and launderettes) but excludes certain activities (e.g. banks, estate/letting agents, providers of certain medical services such as dentists and professional service providers such as solicitors). The vast majority of hereditaments with an RV below £51,000 shown in the table will not be eligible for the scheme as they do not meet the eligibility criteria and/or may be subject to state aid limits. 

As the relief policy is actually implemented by billing authorities using their section 47 discretionary rate relief powers under the 1988 Local Government Finance Act individual London boroughs can impose tighter definitions or restrictions. Local authorities may also require businesses to apply for the relief rather than granting it automatically to allow them to assess eligibility – which will require some promotion of the scheme to ensure maximum take up.

Based on the 2015-16 retail relief scheme we estimate that between 40,000 to 50,000 premises might be eligible for the scheme in London but the precise number will be determined by billing authorities.

The MHCLG guidance for the retail business rates relief scheme is at the link below:

https://www.gov.uk/government/publications/business-rates-retail-discount-guidance

 

Number of hereditaments on draft 2017 local rating list with a rateable value below £51,000

London Billing Authorities

Barking and Dagenham

3,833

Barnet

7,696

Bexley

4,726

Brent

7,467

Bromley

6,286

Camden

12,087

City of London

13,294

Croydon

7,916

Ealing

8,411

Enfield

6,095

Greenwich

4,395

Hackney

8,693

Hammersmith

6,086

Haringey

4,837

Harrow

4,951

Havering

6,892

Hillingdon

5,690

Hounslow

8,317

Islington

5,859

Kensington and Chelsea

3,852

Kingston

7,400

Lambeth

7,561

Lewisham

5,386

Merton

4,405

Newham

5,986

Redbridge

5,942

Richmond

4,986

Southwark

9,121

Sutton

3,586

Tower Hamlets

13,502

Waltham Forest

6,062

Wandsworth

7,610

Westminster

21,984

Total

240,914