Act now to prepare for your 2017 Business Rates Revaluation
FIND OUT HOW MUCH YOU WILL PAY AND HOW WE CAN HELP
All commercial occupiers have had their premises revalued by the Valuation Office Agency with new rateable values coming into effect from 1 April.
Given the significant increases in values across central London and elsewhere in the country since the last valuation in 2008, many businesses are facing a significant uplift in the rates they will be paying - in extreme cases this could be in excess of 100%. The draft list figures were published on 30 September 2016.
Businesses need to act now - Cluttons is offering a free rating audit to assess your liability for 2017/18.
WORKING WITH OUR EXPERTS
We have an experienced professional rating team with an impressive track record of appeals on behalf of ratepayer's over many years. In fact, following a recent survey of our clients our rating service was described as professional, trusted, knowledgeable and easy to understand.
When you choose Cluttons you will be assigned a senior rating expert who will review your assessment and recommend whether there are grounds for a challenge as part of your free audit.
Our charges for the check, challenge and appeal processes will depend on the circumstances of each case. However fees are typically based on a percentage of the rates saving, with no up front charges.
UNDERSTANDING THE 2017 RATING REVALUATION
The Government has published draft regulations for the 2017 revaluation which propose radical changes to the current appeal process and will have a major impact on many properties.
New assessments are based on notional rental values as at 1 April 2015 for all commercial properties. As with previous lists this will show how the rateable value is calculated.
The appeal process has changed and now involves three steps should a ratepayer wish to challenge the assessment:
- A check of the factual information the Valuation Office have considered in arriving at the valuation
- A challenge, which is likely to be similar to the current formal statement of case, prepared by the ratepayer's adviser with supporting evidence
- The Valuation Officer then issues a counter submission
If this is not acceptable and no agreement can be reached the matter can be appealed to the Valuation Tribunal, where formal representations by the ratepayer's adviser and the Valuation Officer will be heard.
We strongly recommend that ratepayers take action now and would encourage them to register for a free audit or contact one of our experts.