Business Rates Revaluation 2010

Crossrail supplement

The Greater London Authority (GLA) has introduced a new business rate supplement (BRS) which commenced for the 2010-11 financial year to finance £4.1 billion of the costs of the £15.9 billion Crossrail project.

What is Crossrail?

Crossrail will provide a new railway across London, connecting the outer suburbs and Heathrow with the West End and City.  It will help the future growth of London's economy and enable London to remain a leading world city.  The increased earnings from new employment opportunities and transport time savings will benefit businesses right across London.

Click here for further information on Crossrail.

Will my business have to pay the Crossrail BRS?

The BRS will be applied to assessments on the local rating lists of the 32 London boroughs and the City of London, which have a rateable value of more than £55,000. 

How much will I pay if my rateable value is over £55,000?

The Crossrail multiplier for 2012-13 is 2p in the pound.  A ratepayer for a property with a rateable value of £100,000, would pay £2,000 (2% x £100,000).

Will reliefs apply to the BRS?

Reliefs e.g. charities will apply on the same basis and at the same percentage rate.  However, empty properties will not be exempt from BRS (unless they are eligible for empty property relief under NNDR).