Who are the biggest business rates payers in Manchester?
As I mentioned last week, Greater Manchester has been given the chance to keep 100 per cent of business rates growth and whichever way you look at it, it's a huge bonus for the political playmakers across the region.
At the moment Town Hall bean counters get to keep 50 per cent of the cash above what is forecast to come in through business rates and this retention rate meant a significant boost to council coffers with Manchester, over the next financial year, collecting an estimated £310.6m in business rates. Of this, they will keep an estimated £139.4m. Local research also reveals that the city's top 10 business rate payers between them contribute 13 per cent of the entire property tax take.
Interested in finding out who the big business rate givers are for 2014/15?
Well, Manchester Airport apparently is the biggest contributor paying nearly £15m and maybe that's no surprise to most people. The rest of the list is quite eclectic but the big supermarkets all take a hammering for some of their behemoth superstores as well as the University of Manchester. The Etihad Stadium also puts in an appearance but perhaps not as high as some people would think – coming in at No 8.
Here's the list in full:
1. MANCHESTER AIRPORT – £14.96m
2. THE UNIVERSITY OF MANCHESTER – £6.63m
3. MANCHESTER ROYAL INFIRMARY – £4.06m
4. RBS 1, HARDMAN BOULEVARD – £3.31m
5. MANCHESTER CIVIL JUSTICE CENTRE – £2.53m
6. CO-OPERATIVE 1, ANGEL SQUARE – £2.28m
7. IN THE CITY OF MANCHESTER; THE METROPOLITAN BOROUGHS OF BURY & TRAFFORD, METROLINK – £2.07m
8. ETIHAD STADIUM – £1.71m
9. SAINSBURYS HEATON PARK – £1.63m
10. ASDA EASTLANDS SPORTCITY – £1.61m
Fortunately Dunlop Heywood's Head Office in Police Street, M2, won't be making its way on to the list any time soon!
The Valuation Tribunal has ruled in favour of Dunlop Heywood and its hospitality client Voodoo Doll Ltd following an appeal over the valuation method used on the Mojo bar...
A Tory MP is calling for business rates to be scrapped and replaced by an increase in VAT in order to save high street businesses.
Maximising income and protecting cash flow has never been more important for landlords as the UK battles through the latest stage of the pandemic.