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Imperial War Museums loses business rates appeal | Museums Association

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Increased valuation will cost £117,000 over 4 years.

 

Imperial War Museums (IWM) has lost an appeal over the level of business rates it is required to pay on an archive facility.

 

The organisation must now pay about £30,000 more each year in business rates from 2013 onward, adding up to £117,000 by the end of 2016-17.

 

Business rates for a property are calculated using a rateable valuation set by the Valuation Office Agency (VOA). The museum’s archive in Saffron Walden, used to store films, was given a rateable valuation of £27,000 in 2010. In 2013 the VOA increased this to £325,000.

 

The new valuation, 12 times larger than the previous one, arose because the VOA changed its method from a rental basis to a contractor’s basis, which is based on the estimated rebuilding cost.

 

Edited by citizenB

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