Business Rates
The question
To ask the Chancellor of the Exchequer, what estimate she has made of the number of properties that the proposed new multiplier above £500,000 Rateable Value will apply to by (a) special categories and (b) sector.
Answered by James Murray
The VOA regularly publishes official Non-Domestic Rating statistics on gov.uk here: https://www.gov.uk/government/collections/valuation-office-agency-non-domestic-rating-statistics. The number of properties over £500,000 in rateable value, broken down by property sector is published in table 2.2 here:
The highest rateable value band where the VOA publishes a breakdown of properties by special category code, mean and median is £51k. The VOA does not currently publish a further breakdown of data for properties with a rateable value over £500k but plans to do so in an ad hoc publication.
The publication date is expected to be announced within the next two weeks, and information published by 31 March 2025.
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