By Altus Group | November 23, 2020

The Treasury in March, attempting to negate the economic impact of the pandemic, wrote off business rates bills for this current financial year, which runs from 1st April 2020 to 31st March 2021, fully exempting all occupied retail, leisure and hospitality premises irrespective of their size.

Those retail, leisure and hospitality premises eligible for the discount included:

  • Properties used for the sale of goods to visiting members of the public – including most shops, post offices and petrol stations;
  • Properties used for the provision of services to visiting members of the public – including hair salons, nail bars, travel agents, rental shops, estate agents, betting shops and funeral parlours;
  • Properties used for the sale of food and drink – including pubs, bars, restaurants, cafes and takeaways;
  • Leisure properties – including sports venues, gyms, museums, cinemas, theatres, nightclubs, tourist attractions and casinos;
  • Properties used for assembly of the visiting public – including public halls and clubs;
  • Properties used for accommodation – including hotels, guest and boarding houses.

The real estate adviser Altus Group say with the retail discount set to end on 31stMarch next year, 66,374 business premises across London’s 32 boroughs and the City will be returned to normal business rates liabilities totalling £2.79 billion from 1st April for 2021/22.

Robert Hayton, Head of Property Tax at Altus Group, says “whilst next April cannot signal a return to pre pandemic levels of property taxes it must strike a balance with public finance affordability.  Adjusting rateable values used to calculate bills, for those properties under appeal, reflecting the profound effect of the pandemic in values ahead of new bills being issued next year is part of the solution which will need to be supplemented by additional targeted support to where it is most needed.”

 

 

66,374

£2,792,666,189

 

Properties

Rates Payable 2021/22 

Westminster City Council

8,011

£799,301,973

Royal Borough of Kensington and Chelsea

3,166

£204,078,885

London Borough of Camden

4,132

£153,598,393

London Borough of Hammersmith & Fulham

2,661

£134,013,110

London Borough of Hillingdon

1,497

£115,056,305

City of London

1,702

£94,720,339

London Borough of Newham

2,074

£88,818,263

London Borough of Barnet

2,642

£79,375,057

London Borough of Tower Hamlets

2,768

£79,253,752

London Borough of Islington

2,745

£63,635,572

London Borough of Wandsworth

2,375

£63,592,267

London Borough of Southwark

2,226

£62,352,458

London Borough of Croydon

1,879

£60,651,783

London Borough of Bromley

1,840

£57,166,469

London Borough of Lambeth

1,835

£53,507,257

London Borough of Ealing

2,200

£49,351,883

Royal Borough of Kingston upon Thames

1,178

£48,530,631

London Borough of Brent

2,143

£47,646,084

London Borough of Enfield

1,615

£46,564,549

Royal Borough of Greenwich

1,107

£46,368,409

London Borough of Hounslow

1,223

£45,600,780

London Borough of Richmond upon Thames

1,693

£42,356,787

London Borough of Haringey

1,791

£41,300,521

London Borough of Havering

1,190

£41,126,975

London Borough of Merton

873

£40,609,148

London Borough of Hackney

2,112

£ 38,010,425

London Borough of Waltham Forest

1,505

£32,970,923

London Borough of Redbridge

1,509

£32,796,931

London Borough of Lewisham

1,260

£32,662,954

London Borough of Harrow

1,415

£30,583,721

London Borough of Bexley

705

£27,467,064

London Borough of Sutton

696

£24,186,041

London Borough of Barking and Dagenham

606

£15,410,480

 

 

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