Valuation and Appeals
Rateable Value is the basis of your business rates, and represents a hypothetical opinion of rental value estimated by the Valuation Office. It determines the amount of rates payable. The current 2010 Rateable Values are based on rental levels as at 1st April 2008, an uncertain time in the market, so that analysis to assess whether the figure is correct is complex and requires specialist rating expertise to challenge it, as well as extensive knowledge of the various property types, which is provided by our in- house specialists in our agency and valuation departments.
Rating Appeals
Compiled List Appeal
Appeals challenging the Rateable Values introduced on 1 April 2010 in both England and Wales have no time restrictions and can be lodged until 1 April 2015, although the legislation does restrict appeals allowed for each rate payer to one per compiled list entry. Regardless of when the appeal is lodged in the List, if the Rateable Value is reduced then reductions are fully backdated. In Scotland appeals have to be lodged in the first six months of the List.
Material Change of Circumstance Appeals (MCC’S)
Your rate liability could be affected by any number of temporary factors or permanent changes in the surrounding area. In order for material change appeals to carry weight, it is important to ensure that all the underlying issues are communicated in a timely manner and a co-ordinated response is put forward. Situations that may warrant an appeal include:
i. Construction works.
ii. Increased competition.
iii. Restrictions in access.
iv. Roadworks causing disruption.
