Rating

The rateable value of all business premises is reassessed every five years. The current rating list came into force in April 2000 and is about to be changed. This assessment is the theoretical rent of the property.

Business rates are a government tax collected by the local authority on its behalf. The business rate for the year 2004/5 is April 2000 rateable value x 0.456.

The rating assessment can be challenged. The reasons for challenge under the current year 2000 rating list are limited, but if a reduction may be successfully argued if the use of the property has changed, the area altered for uses or the there have been changes in the neighbourhood.

Year 2005 rating assessments are about to be published in draft form for full publication on 1 st April 2005 from which the list will become operative.

It would not be correct to guess what the value of the property is as at 1 st April 2005 so the actual date of valuation is earlier i.e. 1 st April 2003. There are many reasons why a property's value changes and this can happen within a very short time. So the value of your building now - today - could be quite different from the value that your property should have been assessed at on 1 st April 2003.

Check with us when you know your new assessment and we will happily give you advice on the appropriate action.

Our fees for undertaking rating appeals are always discussed and agreed with you in advance and are based on the savings achieved.