Business rates revaluation
Business rates revaluation 2017 in coming and will take effect from 1st April 2017. The current rating list is based on rental values as at April 2008, for which rents have reduced significantly – for most commercial property in areas outside London. It was hoped that a 2015 revaluation would bring a much needed adjustment, not only to reflect a falling rental market and give some relief to business ratepayers, but also for the burden to be more evenly distributed between the prospering South East and the rest of the country, however the revaluation was postponed until 2017.
Business rates revaluation 2017 is coming
Are you prepared for the revaluation of your business premises that will become effective from 1st April 2017?
There are going to be some significant changes introduced, the key changes being:-
- From April 2017 small businesses that occupy their sole business property with a rateable value of £12,000 or less will pay no business rates.
- The appeal system will change to a three stage process known as Check, Challenge, Appeal (CCA).
It will have been 7 years since the last valuation list was updated and, hopefully, the revaluation will bring the rateable value of properties back into line with market values and will fairly reflect the prevailing value of your property and not an inflated value, as is the case with many commercial buildings, particularly those outside of central London.
The Valuation Office has compiled the new list which is based on a valuation date of April 2015. They gather this information mainly through the issue of ‘Request for Information’ forms. The 2017 rating list is now available to view at www.gov.uk/voa/revaluation.
KWB has compiled its own data on rental values and is able to advise clients on the new rates and whether they are accurate.
Act now to reduce business rates
It is therefore essential that any business occupier or commercial property owner looks at their current business rates calculation to see if there are any grounds to appeal for a business rates reduction. This could mean savings in rates already paid going back to April 2015 as a business rates rebate AND savings going forward.
Fees paid out of savings made
KWB business rates consultants have already successfully appealed numerous rating assessments on behalf of occupiers and owners, achieving significant refunds and future savings. We provide impartial business rates advice with fees geared to savings for the client, no charges in advance and a no win, no fee basis.
Widely experienced in appealing business rates
We are experienced in regularly handling business rates appeals in the following areas and throughout central England:
- Birmingham City Council
- Solihull Metropolitan Borough Council
- Redditch Borough Council
- Bromsgrove District Council
- Worcester City Council
- Stratford-on-Avon District Council
- Wychavon District Council
- Wyre Forest District Council
- Warwick District Council
- Wolverhampton City Council
- Dudley Metropolitan Borough Council
- Sandwell Council
- Walsall Metropolitan Borough Council
- Stafford Borough Council
- Lichfield District Council
- Cannock Chase Council
- Coventry City Council
- North Warwickshire Borough Council
- Nuneaton and Bedworth Borough Council
Want to know more?
Contact Martin Cook0121 212 5993