As usual there is much hype about the Budget. The press tend to focus on the price of a pint of beer and a packet of cigarettes, but sifting through the detail to conclude how it will affect your business is more difficult. To make it easier we’ve looked at the changes in respect of business rates, and how they’re likely to impact your business:
  1. Business Rates Multiplier - this is the figure that is used to calculate the rate in the £ for your business rates bills. From next April it will be changed from the Retail Price Index to the Consumer Price Index. This is good news for future rates bills as the CPI is currently lower than RPI and is more stable, giving more certainty. We trust CPI will remain lower than RPI, but of course that’s not guaranteed.
  2. The ‘Staircase Tax’- this is what the press call the Woolway V Mazars decision of the Supreme Court. This case was started by Paul Rabette many years ago for his client Mazars. The Valuation Office doggedly took it through every level of court in the land (and lost) until the Supreme Court agreed with them. The Chancellor has said that this decision will be overturned, which is really pleasing, as it was inequitable to ratepayers with several premises in the same building or very close to each other. If you think this might affect you please call us to discuss.
  3. Pub relief - Pubs with a RV of under £100,000 will get another year of £1,000 off their rates bills – which has got to be good news for those of us who use pubs!
  4. Rating Revaluations - There will also be a change to the frequency of rating revaluations, which are supposed to be every 5 years, but the last one was extended to 7 years. This has meant that up until this April premises were valued at 2008 levels, at the height of the market. Changing them to 3 yearly reviews after 2022 will mean that rateable values will reflect changes to the market much sooner than previously.

On the whole we think there are some positive changes, which we hope will help all of us in the longer term.

Government Gateway
The Valuations Office’s new Check Challenge Appeal system is now beginning to bed down. We are pleased to report that many of our clients & tenants have now successfully registered using our Step by Step guide. If you have not done this yet and would like some assistance please get back to us.

The first stage in the process is to sign our Authority to Act, again if you have not done this yet and would like me to send a draft for you to sign please let us know.

If you have any queries please don’t hesitate to contact paul.rabbette@dayandbell.co.uk.