Business rates update

Business rates revaluation

This is Clapham BID has continued to campaign against business rates increases.

Along with other business groups across London, This is Clapham BID has continued its campaign to highlight the serious impact of the planned increases in business rates, and in calling for fundamental changes to the current system. The campaign has brought together nearly every BID in London, the Mayor of London, all of London’s MPs and a huge number of London’s businesses.

Clapham businesses will be hit with significant increases.  Research commissioned by This is Clapham shows that only five members of the BID will see a reduction in their business rates bills – all other members will see increases, with some facing particularly large uplifts.

Our campaign made progress: last year, the government confirmed changes to its “transitional relief” arrangements, which will result in reduced charges for large businesses in 2017/18 and 2018/19 (see here for more information on the government’s response).  But we believe that the government can go further.

We recently signed a joint letter to the Chancellor, asking him to reconsider the government’s position on business rates, given the damaging impact that rises will have on London and its competitiveness. This resulted in some additional support in the recent budget for pubs and small businesses.

This is Clapham held a business networking event on 6 March where Rod Pearson from local surveyors Evans Person provided advice to businesses. Rod is happy to provide advice to Clapham BID members and has been engaging with the Valuations Office on the validity of some of their valuations in areas such as Old Town.

We have also been in contact with various news publications about how the rate rises will affect businesses in Clapham. This includes news articles in Retail Week and the Lambeth Weekender.

Please contact This is Clapham BID if you have any questions about the revaluation process or would like to access advice. In the meantime you should check your new rateable value online and ensure that the assumptions being made about your property are correct. You can do this online – https://www.tax.service.gov.uk/view-my-valuation/search

Posted in Business news