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News Release

London

Jones Lang LaSalle comment on change to business rates



London, 16th July 2009 - The Department of Communities and Local Government (DCLG) has now published initial details of changes in business rate liability from April 2010.

The figures are more conservative than had initially been feared and DCLG estimate that 60% of businesses will see a fall in next year’s rate bill.  The position of the remaining 40% of ratepayers will become clearer in September when details of new rateable values will be published.
Commenting on the issue, Tim Beattie, Jones Lang LaSalle’s Head of Rating said: “DCLG's findings suggest that there will be increased rate bills for many businesses in London and the South East, or those occupying properties in prime locations and whilst these large increases in rate liability will be cushioned by transitional relief there are real concerns that the proposed limits do not go far enough in the current economic climate and state of the property market.”  

The attached slides provide predictions of proposed changes to property by locality and sector.