1st April 2017 is a date that should be in every businesses diary.
This date brings the new rating list into effect.
There’s "no knowing" what’s in store for some, and no way of budgeting precisely for the years ahead, however, the business rates burden should be more fairly split from 2017 onwards, with struggling Northern retailers no longer subsidising London’s Regent Street.
How Roger Hannah & Co can help –
In the wake of the last two revaluations, in 2005 and 2010, Roger Hannah & Co has saved UK businesses in excess of £10,000,000 through appeals. We have advised on properties of every type, from abandoned airfields to bingo halls, Café Bars and quarries, with a combined rateable value in excess of £1bn.
The Draft list of Rateable Values will be published on the 30th September 2016 and notices sent to occupies of their valuation.
We’re planning to save money for even more businesses after the 2017 revaluation.
So don’t delay, be prepared. Roger Hannah & Co. can provide a comprehensive audit of your properties business rates liabilities and potential 2017 value.
In addition to the revaluation new business rates legislation proposed by the Government will increase the administrative burden on small firms; these proposals contain three new measures which have been heavily criticised simply put it would appear the Government are seeking to discourage businesses from appealing their rating assessments.
The proposals allow for significant changes to the appeals system and the powers of the valuation office to share information with Local Authorities.
The three stage amendments are:
Check: This requires the ratepayer to verify the facts and is likely to restrict any departure from these at any stage of the process.
Challenge: Requires the ratepayer to detail to the valuation office why their assessment should be amended and what the revised assessment should be. The valuation officer will then issue a decision notice.
Appeal: The ratepayer will then only be able to appeal against the decision notice to the Valuation Tribunal with the possibility of an upfront fee.
All of this could catch out the innocent business owner, and with a proposal to introduce financial penalties (up to £500) for providing false information it seems these changes are designed to raise the bar for anyone considering appealing against their rates assessment.
Far from creating something simpler it would appear what the Government has proposed will create a system with more work, adding additional up front cost and penalties in a system heavily weighted against the ratepayer.