Business rates – not an April Fool’s Day joke

Business rates – not an April Fool’s Day joke

Business rates – not an April Fool’s Day joke


The Valuation Office Agency (VOA) is updating the rateable value of all business properties, this process is known as revaluation.

Following the last revaluation in 2010, the forthcoming business rates revaluation will come into force in April 2017. At revaluation, the government adjusts the value of business rates to reflect changes in the property market. Having not done this exercise for 7 years, we can expect to see some major fluctuations.

The government is introducing a new business rates appeals system to coincide with the new ratings list. How your property is valued and how your business rates are calculated remains the same – the key difference is in what happens if you think your business rates bill is inaccurate and want to lodge an appeal.

This is where a new process called “Check. Challenge. Appeal.”  comes into play. The CCA system will create a range of barriers and disincentives, such as fees and technical requirements. In addition, fines may be introduced for careless mistakes or submission of incorrect details. However, with professional support, it is possible to navigate this system and secure a fairer deal.

 

If you would like to discuss transforming your procurement function, please call: +44 (0)203 693 7275 or click here to email us

Click here to read the full article

Subscribe below for regular Insights

* indicates required

Please select all the ways you would like to hear from Procura Consulting:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.