Rating List April 2017
The 2017 Rating List began on 1 April 2017 when the Valuation Office Agency (VOA) updated the Rateable Value of all business properties for the next five years and is based upon the rental value as at 1st April 2015.
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.
In response to the Covid 19 outbreak the Government have introduced a number of Business Rate reliefs to the Retail, Leisure and Hospitality sectors along with Grants and postponed the 2021 Revaluation so as to provide some certainty to Business Rates liability for 2021/22. The Government have now announced that the next Revaluation will now take place on 1st April 2023 with a valuation date of 1st April 2021 with the subsequent Revaluation on 1st April 2026.
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.