Football clubs hit by increased business fees: Spurs face biggest stadium bill with Leeds set for biggest increase
Premier League clubs face a ‘huge’ increase in their trading fees next year after their grounds were revalued.
Commercial properties have seen an average 7.3 percent increase in their ‘valores catastral’, which are used to calculate the tax, but the average value of top-tier football stadiums has risen nearly 50 percent.
The revaluation will add £7m to the trade fee bill paid by the 20 Premier League clubs, taking it from £26m to £33m.
Top asset: Tottenham Hotspur’s new stadium (pictured) has the highest assessed value at over £10m
Leeds United’s Elland Road saw the biggest increase in its taxable value, up 315%, while Wolverhampton Wanderers and Brighton & Hove Albion saw increases of more than 250%, according to analysis of government figures by business rate experts. Altus Group.
All three clubs were promoted to the Premier League before the latest valuations were made last year, having been in the lower divisions at the time of the previous count in 2015, adding to the value of the grounds.
It means Leeds’ business fees bill rises from around £369,000 to £479,000 a year.
The only club enjoying a cut to their trade fee bill is Aston Villa, with Villa Park’s taxable value falling by almost 10 per cent, taking their bill down from £1.3m to £1.2m. millions.
Tottenham Hotspur’s new stadium has the highest assessed value at over £10m (with a bill of £4.8m), followed by Manchester United’s Old Trafford stadium at close to £9m. sterling pounds.
At the other end of the table is Brentford, whose west London home has an assessed value of £335,000.
It means Brentford will pay just over £170,000 in trade fees. An Altus Group spokesman said “football clubs will be hit with massive tax increases next year”, adding that promoted clubs like Leeds saw the biggest increases due to “all the riches” that club status brings. Premier League.
Business fees are charged at 2.1 million non-domestic properties, including offices, shops, pubs, warehouses and football stadiums.
The bill is based on the assessed value of a property, which is set by the Appraisal Bureau Agency and is generally based on the annual rent that the property would attract on the open market.
For sports stadiums, it takes into account factors such as capacity and attendance. The tax will cost businesses £28.5bn this year, rising to £35.9bn in 2027-28, according to documents released alongside last week’s Autumn Statement.
In the statement, Chancellor Jeremy Hunt said he would proceed with a planned revaluation of commercial properties beginning in April 2023 so that invoices “accurately reflect market values.”
This resulted in the commercial rate bill falling for many properties, with stores such as Harrods and Selfridges among the biggest winners due to the fall in property values on the High Street.
By contrast, the value of large soccer stadiums has risen as money is poured into the sport.
The assessed value of the 20 Premier League pitches now stands at £75.7m, up 49% from the 2015 valuation of £50.8m. Robert Hayton, UK Chairman at Altus Group, said: “Valuations are complex and take into account not just the size or capacity of the stadium, but also its quality, as well as attendance and revenue.”