Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the answer of 17 November 2025 to Question 87788, whether airport turnover and revenues were a material consideration in the determination of airports' Rateable Value in the revaluation of business rates; and what information airports are required to pass to the Valuation Office Agency.

The Rateable Value of a property is a measure of its annual rental value. The best evidence to use in undertaking such valuations is actual rental evidence. For some classes of property there is a paucity or indeed no rental evidence as these properties are rarely or never let on the open market. In such cases Valuers use other methods such as the Receipts and Expenditure method, which estimates the rental value from an analysis of the trading accounts of the business occupying them.

When valuing by Receipts & Expenditure method considering accounts is a material consideration. The valuation is required to be carried out in relation to the relevant valuation date (01 April 2024 for the 2026 rating list). The accounts available for the years preceding that date should be considered to ensure that they fairly reflect the proper trading position at the valuation date. The outcomes of such valuations are then compared to the limited rental evidence available.