THE LATEST NEWS...
Rating Revaluation 2010 - April 2008
Rating Cowboys - A Secretarys Nightmare! - April 2008
Changes To The Rates Liability of Empty And Partly Occupied Business Properties To Take Effect From 1st April 2008 - March 2008
RATING REVALUATION 2010
As you may know, the Rating system operates on a five yearly Revaluation Cycle, the current one having started on 1st April 2005.
The next one is scheduled to come into force on 1st April 2010 and the Valuation Office (the Government Agency responsible for Rating) is starting to collate information in order to produce the new Rating List for 2010.
It is far too soon to be able to predict how your Ratable Value will change in two years time, but you should seek professional advice from suitably qualified Chartered Surveyors like Bissett Kenning & Newiss as soon as possible.
It is important that you instruct your professional advisors at the earliest opportunity so that they have as much time as possible to prepare their evidence before making a formal Appeal.
All Rate Payers should give this matter careful consideration now.
April 2008
RATING COWBOYS - A SECRETARYS NIGHTMARE!
Beware of the telesales and doorstep calls that promise vast savings if you sign on the dotted line.
There are a large number of telesales and high-pressure sales businesses claiming to be Rating Consultants or even Surveyors. For the payment of a small fee (up to £700.00 + VAT) plus a percentage of your savings, these firms will promise an amazing reduction, guaranteed , before they have even looked at your property.
You should:
⇒ Beware of the hard sell of telesales or doorstep sales people, and ask searching questions before signing anything;
⇒ Understand the terms of any contract you are offered and be aware that there may be terms which commit you to a period of service;
⇒ Find out if the agent is able and willing to put you in touch with satisfied clients;
⇒ Be suspicious of any agent who claims to be able to get a big reduction in your Rateable Value without inspecting your proeprty or asking to see your accounts; and
⇒ Check the credentials of any agent who claims to be a member of a professional rating body.
All qualified surveyors should be members of the Royal Institute of Chartered Surveyors and/or the Institute of Revenues, Rating and Valuation.
If in doubt call Bissett Kenning & Newiss.
April 2008
CHANGES TO THE RATES LIABILITY OF EMPTY AND PARTLY OCCUPIED BUSINESS PROPERTIES TO TAKE EFFECT FROM 1 APRIL 2008
Business rate empty property relief has been reformed in order to provide a strong incentive to bring empty property back into use. The Government believes this will help to increase the supply of premises to let, and so reduce business rents and improve competitiveness in the UK. Although your property(s) may currently be occupied and remain so for the foreseeable future it is important that you are made aware of these major changes.
As of 1 April 2008, most property that has been empty for more than three months – or, in the case of industrial property, for more than six months – will no longer receive relief from rates. After the initial three or six month rate-free period expires, empty property will be liable for 100% of the basic occupied business rate.
If your property is not capable of beneficial occupation – for instance, if it is in poor condition and cannot be economically repaired – the Local Valuation Officer may judge that it should be taken out of the rating list altogether.
Bissett Kenning & Newiss are currently looking into a number of ways in which to overcome this issue. Should you be affected by this new legislation please contact one of our offices and one of our Surveyors will be more than happy to discuss all options with you.
March 2008