The government has embarked on a comprehensive review of Business Rates with the aim of producing a more streamlined and efficient system, designed to reduce the vast number of entirely speculative appeals raised each year.
It has been seven years since all non-domestic properties in England and Wales were nationally revalued. The 2017 Revaluation is based upon rental levels at 1 April 2015 and will form the basis of your business rates liability for the next five years. Draft listings were issued on 30th September 2016 and you can now view your new liabilities. Early indications show that many BHBPA members will be facing a substantial rates increase.
You must act now if you want to ensure your business rates payments are kept to a minimum, and here’s why:
- You may need to challenge your previous rates bills before you lose the right.
- You may need to challenge your future rates bills.
- You may be able to reduce your business rates early before you have to start to pay.
- Your estimated rates bill for next year will change. We can calculate this for you.
The rates challenge process is also changing, with the emphasis being placed on the ratepayer to provide detailed information from the outset. Initial indications are that much of the process will require the submission of information online within rigid time frames. Failure to comply would result in the challenge being unsuccessful.
Contact us now to see how our partners at Rates Recovery can help or just upload a copy of your current rates bill here: