Add thelocalreport.in As A Trusted Source
Premier League Football clubs could face huge increase in taxes on their stadiums next year armory And Manchester United Among those facing very high bills.
officer’s analysis Government The data showed that valuations of the largest football venues in England and Wales have increased significantly.
Global tax firm Ryanair’s analysis of Valuation Office Agency (VOA) data found that the rateable values of stadiums in the top five English The division grew 25% to £111.74 million.
In the Budget last week, the Government confirmed that new business rates paid for commercial properties will be based on valuations carried out in 2024 and a new lower multiplier to calculate their overall bills.
This will result in higher payouts for most clubs from next year, with further increases in subsequent years as the transitional relief cap ends.
Arsenal will face the biggest cash increase of all Premier League clubs, analysis shows, after the stadium valuation increased by £11 million, seeing their rates bill for the year to April rise by £1.1 million to £4.8 million.
Elsewhere, Manchester United’s Old Trafford bill will rise by £973,840 from April to £5.79 million.
The Tottenham Hotspur stadium will only get a rise of £96,200, but will still have the biggest bill in the division for its stadium at £5.8 million.
Other stadiums have seen sharp increases in their rateable values, such as Brentford’s GTech Stadium, which has seen its value increase by 300%, and Nottingham Forest’s City Ground which has seen its value increase by 153.4%.
Within the Premier League, Wolves and Burnley were the only clubs to see their valuations fall by 32.8% and 6.3% respectively.
Elsewhere, the valuation of Sheffield Wednesday’s stadium still rose by 21.8% despite the club being in administration.
Fellow Championship side Wrexham recorded the biggest increase in England and Wales, with the valuation of its racecourse ground rising by 612.4%.
Alex Probyn, practice leader of Europe and Asia-Pacific property tax at Ryan, said: “Football stadiums are valued using the receipts and expenditure methodology, which is driven entirely by income and operating performance.
“The last reassessment was based on 1 April 2021, when grounds were still closed and full capacity crowds were not returning until July 2021.
“The new list reflects the situation as of 1 April 2024, with stadiums fully open and commercial revenues much higher, so the growth we are seeing is exactly what the methodology produces.”