Biggest business rate payers identified

London’s Heathrow airport will continue to pay the highest rate bill of any business in England and Wales when new rateable values are applied in 2017.The airport’s annual bill will be £118m, according to calculations by the property surveyors CVS.The firm’s list of the top 50 rate payers is dominated by airports, power stations and London head offices.Harrods and Selfridges both appear in the top 10, paying £18m and £16m respectively each year.The new rateable values for tens of thousands of businesses in England and Wales were announced in September, following the first revaluation since 2008.The rates are a form of business tax, based broadly on the rentable value of the property in question.Once the rateable value is established, a “multiplier” set down by the government is applied to calculate the actual amount to be paid each year.In some parts of the country where property values have …