Leisure: Business Rates
The question
To ask the Chancellor of the Exchequer, what consideration is given within the business rates valuation methodology to the revenue-generating capacity and operating margins of community-focused leisure businesses, compared with warehousing, office space, and large-scale logistics operators.
Answered by Dan Tomlinson
Rateable values reflect the rental value of a property at a set valuation date.
The valuation methodology used depends on the type of property, and the evidence available. The Valuation Office Agency use recognised valuation methods approved by the Royal Institution of Chartered Surveyors (RICS). These have been clarified and confirmed by decisions from the courts over many years.
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