It seems energy companies have been on a drive to win business rate appeals. Not clear why – other than the obvious.
A financial newsletter called ROOM 151 reveals that EDF Hinkley have had their rateable value reduced by £3.2 million with a really nasty knock-on for West Somerset District Council, who will lose the equivalent of £300,000 from their last year’s total local budget of £1.9m.
The Guardian newspaper (1/11/16) shows how important big power station – and big enterprises’ -rates are to local communities: Sizewell B is reported as paying their contribution based on rateable value of £28,283,000 last year, about half of which would be locally retained. (The Guardian cites rateable values and actual taxes paid).
P.S. The East Anglian Daily Times reports that all business rates across East Anglia are set to fall by 6% after a Government review (EADT 30/9/16).