Heathrow, the BBC and Harrods are among those to be hit with the biggest business rates bills this year, with Britain’s biggest airport paying at least £164m.
Occupants of England’s 50 most valuable business premises, with a total rateable value of £1.36bn, will be charged a combined sum of £672m, according to calculations by the rates campaigner Paul Turner-Mitchell.
The analysis, based on figures from the government’s Valuations Office Agency, showed Heathrow topped the list with four properties on its west London site in the top 50.
Turner-Mitchell said: “The level of property tax paid by business is the highest of any G7 nation, OECD country or EU member state. Property taxes stifle investment and they contribute to businesses closing.” He said 66% of the properties featured on the list had appealed against their business rates.
As well as airports, the top 50 list features power stations, government properties, banks and department stores such as Harrods and John Lewis.
As well as the Sellafield reprocessing site in Cumbria, Britain’s biggest nuclear complex, three atomic power stations are also in the top 10 – Sizewell B in Suffolk, Heysham 2 in Lancashire and Hartlepool. Sellafield will be charged £32.3m and the others £28.3m, £24.6m and £16.6m respectively.
The Home Office will be charged £12.3m and the Ministry of Defence will face a £9.3m bill. The Palace of Westminster will be charged £13.5m and the Channel Tunnel £15.4m.
Business rates have long been a contentious issue among retailers, who argue the system penalises high street premises and unfairly benefits online retailers.
George Osborne announced in December’s autumn statement that he planned to review the structure of business rates and proposals are expected to be ready in time for the next year’s budget, with interim findings to be published this year. The Treasury said the review would not alter the total amount raised by business rates.
Turner-Mitchell said: ”The government’s review must be extended to look at not only the system but the amount the actual system generates.
“Property tax for business needs to be looked at more holistically within the overall context of the economy and other taxes not simply as a guaranteed revenue stream.”
