Chancellor announces changes to Rating system for Commercial Properties

March 23, 2018

The Chancellor Philip Hammond announced in his Spring Statement that he is “helping businesses by bringing the next Business Rate Revaluation forward to 2021 and that revaluations would then be every three years rather five, enabling “a fairer reflection of rental values.

The current list was due to have a revaluation in 2022. Our rating partner Dominic Stanger comments “The Valuation Office Agency is currently overwhelmed dealing with outstanding appeals in the 2010 list and the recent appeals or checks in the 2017 list, that it is hard to see where the resources are going to come from to manage this earlier revaluation. There has been talk of some form of self assessment of rateable values or banding system, however that remains to be seen.

If you think your commercial property might be over assessed for rates, get in touch with Dominic Stanger [email protected] for a free initial appraisal. Fees for appeals are on a no win no fee basis.