A BRIEF SUMMARY OF CURRENT RATING TOPICS
Rating Appeals
Making an Appeal against yours Rates is something every commercial occupier should consider. Rates form a large part of a business's overheads, and in the current economic climate every cost should be examined and minimised wherever possible. You should, however, bear in mind that there are some dangers in the process and that it would be sensible to obtain professional advice.
In many cases a successful Appeal can be backdated to 1 April 2005, and further Appeals can also be made to reflect a specific event, i.e. Material Change in Circumstances.
Revaluation
As you may be aware, the Rating System runs in five-year cycles known as Revaluations. Tcurrent cycle began on 1 April 2005, with the next Revaluation due to take effect from 1 April 2010. At the moment, the Valuation Office (an Agency of HM Revenue and Customs) is collating evidence to re-value the Rateable Values of all business properties. It is too soon to know if there are to be large changes in value.
It would be normal practice at a Revaluation to put a time limit on how long you can continue to make Appeals against the previous value. If you have not made any Appeals against your Rateable Value since 1 April 2005, we would urge you to consider the possibility before the opportunity is lost. A successful Appeal now could also have a beneficial effect on your new Rateable Value after 1 April 2010.
Rating Surveyors
There are a large number of so called Rating Surveyors in existance and it can be difficult spotting a good firm from a bad one. As a generalisation, if they try to charge a fee "up front" i.e. before concluding the Appeal, you would be well advised to think twice. As with most contracts, it pays to read the small print before signing anything.
February 2009