Spring Statement 2018
The Chancellor has confirmed in this week’s Spring Statement that the next revaluation, currently due in 2022, will be brought forward to 2021, with the intention of moving to 3 yearly revaluations thereafter. This is welcome news for businesses as rateable values will be more akin to market rental values.
The government has also promised to maintain funding for the Valuation Office Agency (VOA) at the next Spending Review, which is essential if the rating system is to become more efficient.
The government also intends to stick to the current system of using rental values, rather than some form of self-assessment. This is very positive as most businesses understand rental values and the alternatives could have resulted in additional costs for occupiers.
2017 Rating List and Check Challenge Appeal
Almost a year into the new Check Challenge Appeal rating system and matters are still slow. A recent survey showed that 89% of users are dissatisfied. We continue to make representations through our own business and professional bodies to encourage improvements.
However I’m pleased to say that many of our clients have now registered their premises with the VOA’s Government Gateway using our Step-by-Step Guide. If you’ve not done this yet please get back to me so that we can start the process by sending you a draft Authority to Act to sign.
2010 Rateable Values
There is still a backlog of appeals against 2010 rateable values that are being processed by the VOA. If you still have outstanding appeals, we can assure you that we’ll continue to press your case for a resolution as soon as possible, and we will report back to you when things start to progress.
2018/19 Rates Bills
In the meantime you should be starting to receive your business rates bills for 2018/19. If you have not already done so please could you send us a copy to check they are in line with our expectations?
Our clients range from smaller respected local companies to larger corporate businesses and institutions with a national profile, and we also act on a consultancy basis for property companies that do not have their own rating specialists. Over the last 10 years we have saved our clients £15 million and over 95% of our appeals are successful, resulting in average savings of £20,031.
Rating Surveyor Consultant for Day and Bell Surveyors Limited.