Business rates bulletins

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2017 Rating Revaluation: Authentication and property linking - England

For properties in England there has also been a radical change to the appeals system with the introduction of Check Challenge Appeal (CCA). The new system introduces new processes for both the ratepayer and their agent. Click here to read our user guide to the new system.

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2017 Rating Revaluation: Central London offices

New business rates came into effect on 1st April 2017 and re-assesses all business properties in England and Wales based on rental value as at 1st April 2015. It has been a full seven years since business rates were last assessed, increasing the difficulty in predicting individual bills. So, what impact has this revaluation have on the central London office market?

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Business Rates - 4 weeks to go

In England & Wales the 2010 Rating List closes to new rating appeals on 31st March 2017.

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Transitional Relief: A sting in the tail?

The 1st April 2017 will see the long overdue arrival of the new Rating List. With any rating revaluation there will be winners and losers, as property values can change significantly between each revaluation. To ease the burden that increases in rateable value can have on businesses, properties in England are subject to a transitional scheme. However could there be a sting in the tail with the new transitional relief arrangements?

To find out about the changes please click here and read the full article.

Autumn statement 2016

The Government has released the Autumn Statement and this article looks at its impact on Business Rates.

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2017 Revaluation uncovered

In 2017 new business rates will come into effect for all non-domestic properties after a seven year period since the last revaluation. View our new business rates flyer for more details of the revaluation, the new appeals process and the full business rates timetable.

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Timeline

Preparations for the next rating revaluation are already under way. GVA’s timeline of upcoming events is a useful guide to help you prepare for the proposed changes in 2017.

Click here to view our timeline.

Check, Challenge, Appeal

In preparation for the 2017 Rating Revaluation the Government has confirmed its intention to reform the business rates appeal system for properties in England.

This follows widespread criticism across the business community of the current system, with too many appeals taking too long to resolve. Following a six month consultation, the Government announced the new procedures which are designed to give a more streamlined and efficient process and reduce the vast number of speculative appeals, made by less scrupulous advisors. This is a fundamental change to the way rating appeals are prosecuted.

Click here to read more about the new procedure.

Predictions for 2017 Rating Revaluation: Central London offices

The next business rates revaluation will come into effect on 1st April 2017 and will re-assess all business properties in England and Wales based on rental value as at 1st April 2015. It has been a full seven years since business rates were last assessed, increasing the difficulty in predicting individual bills. So, what impact will this revaluation have on the central London office market?

Click here to read more.

Government accounces English 2017 Revaluation decapitalisation rate

All rateable values will be updated to reflect economic conditions at the 1st April 2015. Most properties are assessed using evidence of open market rental values but for some properties where rents do not exist the “contractor’s basis” of valuation is used. An important element of this approach is the decapitalisation rate. For properties in England, the Government has recently confirmed that it will continue to prescribe two decapitalisation rates for properties.

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Can more frequent Revaluations be achieved?

HM Government has recently issued a discussion paper concerning the frequency of revaluations for nondomestic rates (business rates). The frequency of evaluations was raised as a significant area of concern by both Local Authorities and the business community in the recent Business Rates Review consultation.

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Responses on Business Rates Consultation Published - 8 Key Points

HM Treasury has now published the findings of its consultation on Business Rates, which was launched in March 2015. The 269 responses were from businesses, representatives, academia, business representation groups and local authorities – ‘The Stakeholders’. The findings of this review have been considered by HM Treasury and now put forward in then Chancellors Budget of 16th March 2016.

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Budget 2016: Business Rates Changes

The Chancellor has announced some significant changes to the business rates system and will cut the burden of business rates in England by £6.7billion over the next 5 years. Small businesses will gain the most. From April 2017 over 600,000 small businesses will pay no rates and about 250,000 will receive lower rate bills.

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Scottish Government Confirms Business Rates Changes For Vacant Industrial Properties

Following proposals set out by the Scottish Government in December last year (as detailed in our last newsletter), it was confirmed recently that our worst fears have been realised in respect of vacant industrial properties.

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Significant changes to Business Rates in Scotland

Following an announcement by the Scottish Government in the recent budget, a number of significant changes concerning business rates are due to take effect from 1 April 2016.

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