Business Rates Discussion Paper: New West End Company Representation
On behalf of flagship high street businesses operating across the West End, New West End Company has submitted evidence to the Government in response to its business rates discussion paper.
Far from targeting online giants, over half of New West End Company’s members will be hit by the new ‘super tax’ business rates multiplier, costing up to £44.5 million extra a year. The true impact, post the 2026 revaluation, is likely to be higher, as properties currently under the rateable value threshold rise above it – some for the first time.
We recognise the Government’s commitment to modernising the business rates system. However, we are concerned that the current proposals will disproportionately burden flagship high street destinations – leading to store closures, job losses, and a deterrent to investment at a time when the UK must strengthen its global competitiveness.