Member

As I have stated elsewhere, noble Lords will appreciate the need to ensure that tax cuts are sustainably funded, hence the Government’s intention to introduce the higher multiplier for the most valuable properties. A lot of existing data is already available on these hereditaments that may qualify for the various multipliers. As I will explain, detailed data on reliefs is already published by my department every year. Also, the VOA publishes annual data showing an analysis of the rating list by sector and sub-sector and by region and local authority. In light of this Bill, the VOA last week published data on the property counts and rateable value for properties with a rateable value over £500,000.