Ports: Business Rates

House of Lords written question – answered on 10th February 2010.

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Photo of Lord McKenzie of Luton Lord McKenzie of Luton Parliamentary Under-Secretary (also in the Department for Communities and Local Government), Department for Communities and Local Government, Parliamentary Under-Secretary (also in the Department for Communities and Local Government), Department for Work and Pensions, Parliamentary Under-Secretary (Department for Communities and Local Government) (also in Department for Work and Pensions), Parliamentary Under-Secretary (Department for Work and Pensions) (also in the Department for Communities and Local Government)

The Valuation Office Agency is responsible for assessing all non-domestic property in England and Wales and for giving each one a rateable value. The local authority is responsible for using the rateable value to calculate the rates bill for applying any discounts or reliefs and collecting the money. The Government have had no discussions with the VOA concerning a possible payment holiday.

The Government have listened to the concerns of businesses with significant and unexpected backdated bills, including some businesses within ports. It has legislated to enable such bills to be repaid over an unprecedented eight years rather than in a single instalment, helping affected businesses to manage the impact on their cash flows during the downturn by reducing the amount they are required to pay now by 87.5%.

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