What’s happening?

In April 2017, a rebasing of the business rates system will occur. Normally scheduled every five years, this Revaluation has been postponed by 2 years from 2015.

The Valuation Office are currently collecting rental info and preparing draft valuations, and we have created a timeline depicting the key events from now until the start of the new Rating List in April 2017.

Business Rating – what is it?

This is the business version of Council Tax and applies to all non-domestic occupiers and landlords (if the property is vacant).

New rateable values will shortly be published in preparation for the Revaluation, which will be based on the hypothetical rent of a property at a fixed valuation date. The existing valuations are based on pre-credit crunch rents from April 2008, whilst the new List is based on rents in 2015.

Within the current Revaluation, savings can still be obtained between 2015 – 2017 and where appropriate, our team can review scope for these additional savings.

2017reval2

Average reductions of 10% were achieved during the latest Revaluation.

Next steps

Send us copies of your current rates bills and we will conduct some initial research and advise you on scope for progressing through the new ‘Check, Challenge, Appeal’ system being introduced by the Valuation Office.

We can provide you with budget figures and estimated savings, if required.

Please contact us for more information.