Valuation Tribunal for England reduces City of London retail shop business rates by up to £33M annually.
The Valuation Tribunal for England has determined that over 1,500 retail shops in the City of London may see their business rates reduced by up to £33 million annually. This follows a dispute over the property valuations set by the Valuation Office Agency after the 2023 revaluation. The tribunal's decision, which lowers the rateable value of a typical shop by 38%, could significantly aid the city’s retail sector.
October 09, 2024
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