MIPIM UK 2015: A panel of property leaders called for a reform of business rates offering greater flexibility to drive economic growth.
Melanie Leech, chief executive of the British Property Federation, called for “fundamental reform” of the “unfair” system.
Highlighting the 100% empty rates tax she said there was no other tax where your pay is not conditioned by what you earn and that needed to change.
Martin Jordan, senior business rates professional at Altus Group said the rates appeal system was in crisis with businesses needing more information about how valuations were calculated in order to launch successful appeals.
He also said the backlog was so bad that getting space on a tribunal list was like a “lottery ticket”.
Tim Mitchell, cabinet member for finance and corporate services at Westminster city council, said there was a “democratic deficit” which could be mitigated by business rate payers being consulted on any changes to the system.
Simon Taylor, head of asset management at Derwent London, said: “We feel business rates are a constant struggle and it doesn’t need to be that way.”
He suggested changing how the system is delivered for example around struggling high streets, as opposed to introducing a blanket reform.
louisa.clarence-smith@estatesgazette.com
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