2010 Rating Revaluation – New List has commenced; act now!
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The new 2010 Rating Revaluation commenced on the 1st April. This has affected properties in England, Wales and Scotland with phasing of the largest changes in liability, although no phasing (transitional relief) exists in Scotland and Wales.
The average increase across England and Wales is 20% with increases slightly less overall in Scotland. However, for those ratepayers (apart from the smallest) in Wales and Scotland receiving no phasing, they will have to pay the full increase immediately which could be very expensive.
There has been a wide disparity of change across rateable values nationally (even across similar property types) and it is well worth checking your rating valuation compared to those in the vicinity for anomolies. If ratepayers are unsure how to do this they can contact a RICS qualified surveyor who can assist.
Examples of occupiers experiencing significant increases, are Mayfair offices with <100% increases, football grounds ranging from 99% to 275% increases and the largest increase a flower kiosk experiencing a 1,786% increase!
Occupiers can check their rating valuation online at www.voa.gov.uk and appeals can also be lodged through this site, although careful consideration should be given before lodging and advice sought if uncertain.
- I have worked in the area of business rates reductions since 1992 and have therefore developed significant experience in this sector. My previous experience was with the leading rating practice in the country and this gave me the best grounding possible. I have since also diversified into areas of Corporate property advice including helping companies with relocations and acquisitions of new accommodation.
- My goals are to enhance our relationships with key and new Clients and to offer a range of services, helping companies decide on their future property needs, costs and allowing their businesses to grow with the right properties.