The Revaluation comes into force on 1st April 2017 BUT the draft list figures are to be made available on 30th September by the Valuation Office Agency – just three weeks away. However, until the government announces both the rate in the pound for 2017/2018 and the transitional arrangements, it will not be possible to calculate rate liability for the next rate year.
Any obvious discrepancies in the “new” rating assessment can be brought to the Valuation Office’s attention between the publication of the draft list and 31st March 2017.
The new assessments are based on the levels of rental value as at 1st April 2015, so any worries about property values as a result of the “Brexit” vote will be completely ignored.
A completely new system of examining the Valuation Office’s new figures is due to come into place which is as follows
1. Check – This requires factual survey information to be checked against the information used by the Valuation Office to produce the 2017 valuation. If no agreement can be reached the process moves to the next stage.
2. Challenge – This requires further supporting information and detailed evidence from the ratepayer along with a valuation based on the information provided. If this cannot be agreed the process moves to the formal appeal stage.
3. Appeal – This stage gives access to the Valuation Tribunal where for the first time, a fee will be payable to lodge the appeal.
How we can help
For existing and new rating clients, our services include the following:
Rapleys has provided specialist business rates advice for over 30 years and has successfully reduced clients’ operational costs over successive revaluations.
Our clients benefit from full UK coverage through our network of six offices including Scotland.
We have a loyal client base which is testament to our friendly, practical and cost effective service, providing strategic advice to our clients.
We are specialists in the business rates sector, saving our clients over £60m so far over the life of the 2010 rating list.