2010 Business Rates appeal deadline is looming!

31/01/2017

31st March 2017 is the last day to appeal 2010 Rateable Values!

Rate payers may not only lose backdated overpayments, they could also be paying too much in the future!

Many rate payers will be relieved that their new Rateable Value, which comes into effect on 1st April 2017, is lower than their current 2010 RV and will be thinking that their rates liabilities will be reduced accordingly. However, many rate payers do not realise the potential detrimental impact of their current 2010 RV.

The 2010 rateable Value placed on your property may affect what you pay in future years.

The Government will be introducing, in England, a complicated Transitional Relief Scheme, designed to reduce the impact of any significant changes in RV over the Lists. However, if your RV is going down in 2017 this does not mean your bill will reduce at the same level.

The prescribed percentage decrease in rates payable will be based on your current 2010 RV, therefore if your current RV is too high then your reduction in rates payable may be restricted.

Additionally, if you are one of the many rate payers who’s RV will be increasing dramatically, then although the TR scheme may assist, a reduction in your 2010 RV may soften the blow further.

We therefore recommend investigating the current 2010 RV placed on your property to ensure all future rates liabilities are kept to a minimum.

For more information please contact our Head of Rating, Colin Whelan 07881 249812 who will be more than happy to assist. colin.whelan@scanlans.com

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