£250m rates refund for BT

 

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Posted on 19 Oct 2000 at 10:56

BT has finally won a five-year case in which it sought to reduce the rates it pays to local councils in England and Wales on its equipment, such as phone boxes, telegraph poles and manhole covers.

The Government gave BT the right to appeal against its rates bill in 1995 when it was then paying an annual £525m. After winning its case, BT's rates have been retrospectively reduced to £445m and the company has been awarded a refund of £250m. BT's bill from 1 April 2000 will drop from £862m to £467m.

Agreements for Scotland and Northern Ireland are expected to be forthcoming. The ruling does not affect rates paid on BT's shops and offices.

Author: Mat Whipp