UK Ranks Highest Among Major Economies for Property Tax Share of GDP

A report by global tax firm Ryan found that the UK has the highest commercial property tax burden as a share of gross domestic product among major economies. The analysis, published on Monday, examined the latest available comparable international data. It placed the UK first globally for property taxes relative to GDP and second for total property tax revenues.

6 billion the previous year. The increase follows the revaluation of business rates in England, Wales and Scotland. The Government announced targeted business rates support for pubs and music venues. Hotels and other sectors have warned over predicted rises in their property tax bills.

Probyn, practice leader for Europe and Asia-Pacific property tax at Ryan, said: “The UK sits at the very top of global rankings for property tax. ” Mr Probyn added that property taxes in the UK are the highest by international standards and that the system is designed to continue increasing the yield over time.

He said the result is that business property is carrying a disproportionate share of the overall tax burden and that this is beginning to weigh heavily on investment, particularly in sectors that rely on physical assets and long-term capital.