Rating Assessments 2010

The draft rating list will become effective from 1st April 2010

The Draft Rating List, which will become effective from the 1^st April 2010, has been made available from the start of this month. It sets out proposed new assessment details for each commercial property in England. You can find the assessment which relates to a building you own or occupy on the web site http://www.voa.gov.uk

It is important for both occupiers and landlords to understand the implications of the 2010 revaluation, as current legislation provides for more punitive levels of rates to be paid by landlords and owners on vacant property.

Roche Chartered Surveyors can advise on all aspects of rating, the main issues which you may need to consider being as follows:

We can check the factual elements of your draft valuation i.e. the floor and site areas, facilities on site and the uses to which all parts of the premises are put.
We can consider the rates applied to the various different sections of the property, having regard to the valuation date of the 1^st April 2008 and advise as to whether the rates applied are appropriate even if the rateable value has decreased.
We can undertake appeals as necessary after full discussion with you.
We can provide strategies for reducing empty rates liability.
We can advise on referring to the Local Authority in instances where only part of the premises may be removed from the rating liability when it is not in occupation.
We can consider the deferment of payments for smaller rating assessments to the financial years 2010 to 2011 and 2011 to 2012.
Make you aware that you may be able to receive small business rate relief if your rateable value is less than £15,000.

You should be also aware the Government is currently considering the preferred method for transitional adjustments to any rating assessments. This means any alterations to an increase or decrease in rateable value may be limited by a percentage increase in actual rates paid this current financial year. There should be more information on this in November this year.

Revenue from rating assessments remains static and uniform business rates for this year are less than that of the current financial year. For smaller properties having a rateable value of less than £18,000 and £25,500 in London, the likely rate in the £ for the financial year commencing April 2010 is 41.3p in the £, where it is currently 48.1p and for all other properties, it is likely to be 41.7p, a decrease from the current rate paid of 48.5p.

With the current economic climate, it is essential that all businesses and landlords do consider outgoings and if you require assistance on your rates liabilities, please contact our Mrs. Crisp. jackie.crisp@rochesurveyors.co.uk

Date Added: October 5th 2009