Revaluation - 1 April 2017
The 2017 Rating List launched on 1 April 2017 when the Valuation Office Agency (VOA) updated the Rateable Value of all business properties for the next five years.
The Government announced in the Spring Budget 2018 that the next Revaluation would be on the 1st April 2021 with the subsequent revaluation in 2024, and then every 3 years thereafter.
At Revaluation, the Government adjusts the value of Business Rates to reflect changes in the property market. Having not done this exercise for the past 7 years, we have seen some major fluctuations in levels of business rates across the UK.
The Government has introduced a new Business Rates Appeals system called the Check Challenge and Appeal (CCA). How your property is valued and your Business Rates are calculated remains unchanged – the only difference is, if you think your Business Rates bill is inaccurate and want to lodge an Appeal, you have to do this via the new online platform through the Government website.
This process is called the “Check. Challenge. Appeal.” The CCA system created a range of barriers and disincentives to the Ratepayer wanting to challenge their business rates. In addition, fines have been introduced for submitting incorrect information.
However, with our support, it is possible to find your way through this system and challenge the value. This reform has introduced a far more complex process and puts an even greater responsibility on the Ratepayer to ensure that they are receiving the best advice and are paying the correct amount.