News

2009-03-23 : BUSINESS RATE BILL REVELATION

Allan Milton from Ruddle Merz commented on the latest bill hike; "We're already experiencing an increase in enquiries from businesses who have just received their bills which show costs are on the rise.  We would encourage everyone to look carefully at their bills and, if necessary, consider have there been any changes to the property which could mean they need to be reassessed."

This business rate increase comes on the back on the possible increases when the new Rating List is introduced next year. The Valuations Office is currently assessing ratable values based on rental value and market conditions on 1 April 2008 for the next business rate tariff/Rating List which comes into force in April 2010. Ruddle Merz is expecting to handle a massive wave of appeals following this valuation.  There were 1.5million appeals after the 1995 revaluation and than a million after 2000. So far there have been 502,367 appeals against the 2005 list.

The current legislation only lets firms challenge rate valuation ONCE for every five year valuation period. Time is running out for any appeals not already lodged against the 2005 Rating List.  After March 2010 appeals will not be considered for the 2005 Rating List.