Business rates revaluation 2

United Kingdom
New rateable values for the purposes of business rates come into effect on 1 April 2000. The Valuation Office Agency has carried out its five-yearly revaluation of non-domestic properties, based on their rental value at 1 April 1998, and landowners will be notified of the revised values and served with rates bills, in March or early April.

Advance information as to the new rateable values can be obtained by searching the draft Rating List at the Valuation Office's website, (http://www.voa.gov.uk), by contacting the business rates department of the relevant local authority, or by phoning 0845 602 1507.

Appeals against the new list values cannot be made until the list formally comes into force on 1 April, although a ratepayer may propose alterations to the proposed values before then (if the alteration is not accepted, it will be converted into an appeal and referred to the Valuation Tribunal).

An appeal may be made from 1 April 2000. However, only those appeals lodged by 30 September 2000 will be fully backdated.

Ratepayers should also remember that appeals to the existing 1995 list may be lodged any time before 31 March 2001.

The government is in the process of reforming the appeals system, and is to publish an explanatory leaflet in March.

If you would like any further information please contact Catherine Montgomery on 020 7367 2476 or e-mail cmm@cms-cmck.com.