Rateable values are used to calculate business rates, a tax on non-domestic properties.

The higher the rateable value, the higher the business rate.

Studios in Scotland and Northern Ireland are not impacted by the changes.

Ant-Man and the Wasp: Quantumania

‘Ant-Man and the Wasp: Quantumania’ was filmed at Pinewood StudiosMarvel

Studios chiefs are perplexed by how the VOA has calculated the huge increases in rateable values.

Many argue this is not representative, however.

Talks will come to a head before April when the VOAs draft rates come into force.

The Fox Studios lot in West Los Angeles

Studios are hoping to avoid crippling bills, which some said could raise existential questions about their future.

We are engaging with industry representatives on the valuations.