Business Rates are changing – let Naylors help you navigate the right path…
Every commercial property in the country is in the process of being given a new Rateable Value (RV) by the Valuation Office Agency (VOA).
The draft Rating List, which was published on 30th September 2016, covers a full range of properties including shops, offices and warehouses.
The new Rateable Values will be used to calculate ratepayers’ bills from 1 April 2017 and are intended to be in place for five years. However, every ratepayer has the right to appeal their new RV and a new system is being introduced for appeals.
Check, Challenge & Appeal
The first stage will ensure that all facts are confirmed by the ratepayer and agreed as far as possible.
The Challenge stage will allow a ratepayer to challenge the actual Rating List entry. This will involve discussions with the Valuation Officer, the presentation of facts and possible alternative valuation to justify any alteration by the Valuation Officer. The emphasis is clearly on the ratepayer to provide evidence to support any justification for an alteration by the Valuation Officer.
The introduction of the revised appeal procedure, along with the new 2017 rating revaluations will without a doubt require a detailed understanding of the whole new process and the need for expert advice.
What should you do?
Once ratepayers know their new RVs, with the help of a rating specialist they can decide whether there is any merit in challenging the new figure.
Given Naylors extensive property expertise throughout the North East we are ideally placed to provide the right advice on how best to deal with the changes and either maximise the savings or minimise the increased costs.
Call Peter today for further advice on 0191 211 1563 or email firstname.lastname@example.org