Overview

We can provide you with a FREE desktop appraisal of your new 2017 Rateable Value. This will include a five year projection of the savings that will result from a successful appeal, where we believe an appeal would be successful. We can also assess whether there may be other grounds for a reduction in your assessment.

Introduction

You may be familiar with the envelope that arrives each and every Spring from your Local Authority demanding that your business pays it a substantial sum of money towards local services. This is your business rates liability and must be paid. However, the ‘shocking’ truth is that liability is based on values that pre-date the financial crisis of 2008. A rebasing of the business rates system should have taken place in 2015 but has been postponed until 2017, for political reasons!

That aside, the period leading up to the 2017 Revaluation will now see intense activity on the part of the Valuation Office Agency as they collect information from ratepayers and seek to ascribe updated levels of value to every commercial property throughout the country.

What is changing?

Rateable Values are based on the hypothetical rental value of a property, currently April 2008, and these will be updated in 2017 to reflect rental levels in April 2015. By considering changes in the overall rental levels between these dates, we can predict the changes that will take place following the forthcoming 2017 Revaluation.

The Valuation Office is currently gathering information and will be publishing draft valuations in the late summer of 2016, in readiness for the changes that will take place in April 2017.

What are the timelines?

Currently

The Valuation Office Agency (VOA) distributes forms of return requiring rental information in preparation for the 2017 rating revaluation. In addition, the VOA is currently working on the valuations, which we anticipate will be submitted to the Department of Communities and Local Government by late Summer 2016.

When completing the VOA’s forms of return, it is important to consider a range of factors to avoid inaccuracies and potential increased liability going forward. We can help you identify those specific factors so that your business rates are correctly calculated and kept to a minimum.

August 2016

The Government will report on consultations on the new Transitional Arrangements for phasing of rates bills and will produce more detailed information on the Regulations surrounding the new review processes.

October 2016 – January2017

The VOA publishes the Draft Rating List. TAG can help you to review the Draft Rating List and make representations where required. We can also predict your estimated rates liability as the Government will announce the Uniform Business Rate for the upcoming financial year and whether there will be any transitional arrangements that will benefit you.

March 2017

The VOA publishes the 2017 Rating List.

The start of New Rating List.

We will commence challenges on the revised levels of value in order to reduce your rates liability.

What factors can cause your Rateable Value to change?

If your business has been adversely affected by nearby construction activity or the nature of your physical occupation has changed, then there may be grounds for a reduction in your Rateable Value.

Here are some examples:

  • Extensions to the property
  • Merging of two or more units of occupation
  • Demolition of part or whole of the property
  • Changes in the use of the property
  • Construction activity that has affected your trade or use of the property (e.g.'s access for staff, deliveries, customers)