Crossrail Business Rate Supplement (BRS)
In England, the Business Rate Supplements Act 2009 gives councils and the Greater London Authority (GLA) the power to levy a supplement (a BRS) on the national non-domestic rate with effect from 1 April 2010.
The GLA is introducing a new business rate supplement (BRS) for the 2011-12 financial year to finance £4.1 billion of the £15.9 billion Crossrail project.
Crossrail will provide a new railway across London connecting the outer suburbs and Heathrow to the West End, the City and Canary Wharf.
Who will need to pay?
With effect from 1 April 2017 any business in London Boroughs and the City of London which have a rateable value of more that £70,000. Prior to this date it was £55,000. This may continue to be revised upwards in any year and automatically every five years.
How much will I need to pay if my property's rateable value is above £70,000?
The Crossrail BRS multiplier has been set at 2p in the pound.
What reliefs will apply?
Charities and community amateur sports clubs will be entitled to a mandatory 80% relief on their BRS contribution as applies under NNDR. If granted discretionary relief on all or part of the remaining 20% of their bill under NNDR by the billing authority, the same treatment will apply for the Crossrail BRS.
Empty properties will not be exempt from the BRS - except where they are eligible for empty property relief under NNDR.
Further details about the Crossrail project and BRS are available on the GLA website.