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Ports: Business Rates

Answer

No estimate of the cost to local authorities, the Valuation Office Agency and the Exchequer has been made for administering and enforcing arrangements for business rates on firms in ports, as the addition of new properties to the ratings list is part and parcel of the ongoing rating system. The cost of the schedule of payments scheme to the Exchequer is set out in the impact assessment accompanying the Non-Domestic Rating (Collection and Enforcement) (Local Lists) (England) (Amendment) Regulations 2009 (SI 204). It estimates the cost of the scheme as being revenue neutral for local authorities and £33 million over the life of the scheme to the Exchequer. There is no cost associated for the Valuation Office Agency with this scheme. The schedule of payments scheme was implemented as a result of the Government having listened to the concerns of businesses with significant and unexpected backdated bills, including some businesses within ports. The scheme enables 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 per cent.

Secondary information

Type

Written question

Reference

2976; 718 c357-8WA

Session

2009-10

Subjects

Administration Costs Enforcement Local government Ports Business rates Treasury Valuation Office Agency

Link

View this Written question on www.publications.parliament.uk