Eurotunnel has expressed strong opposition to a planned increase in its Business Rates valuation, after being informed by the Valuation Office Agency (VOA) that the rateable value used to calculate its Business Rates is set to rise by around 200% as part of the triennial reassessment process in Great Britain.
Eurotunnel currently expects to pay €26 million in Business Rates in 2025. If transitional relief remains unchanged, the proposed valuation could increase this by approximately €15 million in 2026.*
The company stated that it “deeply disagrees” with the proposed rise, describing it as unjustified and “confiscatory in nature”, and warned that the additional costs could restrict its investment capacity in Great Britain. Eurotunnel confirmed it will continue to negotiate with the VOA and its supervisory authorities ahead of the final valuation decision, expected by the end of March 2026.
If the increase is confirmed, Eurotunnel says it will explore all avenues available to it, including those provided for in the 1986 Franco-British Concession, to assert its rights through the appropriate authorities, courts or tribunals. The company argues that it is being unfairly penalised compared with competitors that are more carbon-intensive, subject to lower levels of taxation, or operating under social models that differ from those in France and Great Britain.
* Business Rates correspond to local taxes levied on most non-residential properties in Great Britain. The calculation of Business Rates is based on the rateable value assessed by the Valuation Office Agency (VOA) and the multiplier set by the UK government.
Based on an average exchange rate on 31 December 2024 of £1=€1.184 and on the assumption that the multiplier remains close to current levels and with a tapering transitional relief over a 3-year period. ↑
