Business Rates Revaluation

Information Pack for businesses

WHY DID BUSINESS RATES GO UP IN APRIL 2017?

Revaluation
Your new Rateable Value (RV) is based on your Rental Value on 1 April 2015

Why?
Previous RVs were based on Rental Values in 1 April 2008

Central London Office / Retail Market
Due to strong economy and rental growth since 2008, compared with other parts of UK, Central London was particularly hard hit

Hatton Garden BID area average increase in RVs
Most Rateable Values (RVs) in the BID area have risen:
Hatton Garden retail - increases between 4% – 79%
Hatton Garden offices - increases between 7% – 77%
Leather Lane retail - increases between 12% -21%
Leather Lane offices - increases between 19% -37%