There is still time! Be proactive and get back 6 years’ worth of savings.
Under the current legislation, ratepayers can initiate an appeal against their business rates assessment on the current 2017 rating list up until 31st March 2023, which is the last day of the current list.
To “Initiate” means to start the “check challenge appeal” process by serving a check on the property via the Valuation Office Agency (VOA).
Why appeal your business rates assessment?
If you feel there has been a material change in the property’s circumstances e.g. a change in its physical state, a change of use in the neighbouring property or a physical change in the locality, you should strongly consider making an appeal. Examples could include the removal of a mezzanine floor, the closer of a local road that restricts access or the construction of a competing shopping centre.
If the VOA agree the property has been overvalued, they will have to issue a refund for the rates you have overpaid since the beginning of the list, or at a later date if you acquired the property after 1st April 2017.
How to make an appeal?
Firstly, make sure your rates have not already been reviewed or appealed in the 2017 list. If you need help, we are more than happy to look at your properties, assess if an appeal would be appropriate and if so, take the property through the process on your behalf.
What does the end of the 2017 list mean for me?
You will be provided with a new Rateable Value, which will last up until 31st March 2026. From the 1st April 2023, we can start the appeal process on your new 2023 rateable value. The VOA will produce a draft figure in December 2022 so you can see what your new RV will be well in advance of 31st March 2023.