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Business information provider Thomson Financial has filed a writ, demanding more than £800,000 from the City, as well as damages and interest.
It follows a similar £3m claim against the Ciry filed by accountancy firm Deloitte over its offices at
Thomson claims that, in 1997, the City’s valuation officer altered the local lists, changing its offices at Aldgate House, London EC3, from two properties to just one.
Its writ says that the valuation officer used “transitional arrangements” – introduced in 1994 non-domestic rating regulations – under which rates on any properties merged on or after 1 April 1995 should be increased or decreased in phases.
Thomson claims that its offices were merged prior to these regulations, so it should have received the benefit of its new lower rateable value immediately.
The claim relates to the period from 1995 to 2002.
The discrepancy purportedly came to light when the secretary of state for transport, local government and the regions wrote to ratings authorities in 2002 on the issue of updated regulations.
In January, chartered surveyors acting for Thomson wrote to the City requesting repayment of the overpaid rates, but the City has not responded to that request, the writ states.
A spokeswoman for the City said that it disputed the allegation of overpaid rates.
“All calculations for rating purposes were made in accordance with information received from the Valuation Office Agency,” she said. “We cannot go into the details of the defence.”
The spokeswoman added that the City was unaware of any other cases against it for similar issues regarding rates overpayment.
The government has faced a backlash from occupiers, which are demanding a cut in the annual inflationary rise in business rates next year. Supermarket giant Tesco wants the government to scrap April’s planned revaluation.