Business ratepayers have been receiving notification from the Valuation Office of their draft Rateable Values from 1 October 2009 . This is the first stage in setting the level of rate charges payable from 1 April 2010 .
The papers issued by the Valuation Office Agency include a simplified valuation of the property so that you will be able to see how the valuation has been calculated and some information on other properties valued in the same scheme.
However, the payable charge will be less obvious because of a number of reliefs and adjustments that may apply to the rate demand. Also, the Government have yet to announce the multiplier known as the Uniform Business Rate to be applied to the Rateable Values. Current estimates are 41.3p in the £ for 2009/2010 whereas the UBR for 2009/2010 is 48.5p in the £.
The RV for the 2010 Valuation List is based on rental values pertaining on 1st April 2008 .
The current economic conditions will have made the Valuation Officer’s task more difficult so it is particularly important that their assessment is tested to ensure that your liability is fair.
Chris Rowlands & Co is able to advise you on the implications of the Revaluation and whether there are any other avenues to explore resulting in a reduction of your liability.
Please contact Chris Rowlands for an explanation tailored to your particular circumstances and for initial no obligation advice on the telephone.
