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Industrial unit to let - 62,003 sq. ft. (5,760.06m²)
Second Floor, 3500 Parkway, Whiteley, Fareham
Open plan offices to let - 8,248 sq. ft. (766.01m²)
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Offices to let - 1,940 sq. ft. (180.19m²) - 4,233 sq. ft. (393.29m²)
Independence, 3 Stanbridge Road, Havant
New industrial unit to let 21,312 sq. ft. (1,980m²)
2 Kites Croft Business Park, Fareham
Warehouse to let - 35,059 sq. ft. (3,257m²)
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Business Rates - Don't wait until it is too late!
- Author: Anthony Crocker
- Date: 1st January 1970
30th September 2016 – The draft Rating List was published
1st October 2016 – March 2017 – Check rateable values, act on any errors
1st April 2017 – the new Rating List is published and appeals can be lodged.
30th September 2016 sees a draft rating list published for the first time in seven years; occupiers and landlords will have the first opportunity to view their new rateable value and subsequent Business Rates liability.
The 2017 Revaluation will be based on rental values as at 1st April 2015, given the changes in the commercial property market and the time since the last valuation it is more important than ever for occupiers to ensure that they seek to minimise their Business Rates liability.
The revaluation will also herald a significantly different appeal system, CHECK, CHALLENGE and APPEAL and places more responsibility on the ratepayer to provide detailed information about their property, meaning seeking professional assistance is even more important.
The three stage process includes: -
Check – The ratepayer will be required to confirm the floor areas, rent and specification of their property. The Valuation Officer will check and if they believe appropriate amend the rateable value. If the information provided is false “carelessly, recklessly and knowingly” there is a maximum penalty of £500. If the ratepayer disagrees with the value there will be a right to challenge.
Challenge – Following the conclusion of the check stage the ratepayer will have 4 months to challenge the VO’s decision. The ratepayer will have to provide full supporting evidence and detailed reasons why the rateable value is wrong. Negotiations take place prior to the VO issuing its formal response and could take up to 18 months; if agreement still cannot be reached the case will move to the Appeal Stage.
Appeal – The rate payer has four months to submit an appeal to the Valuation Tribunal. No further negotiations can take place and no new evidence introduced (apart from exceptional circumstances). A fee of £300 will be charged for the hearing.
Hellier Langston are experts in Business Rates advice and pride ourselves on seeking innovative approaches to helping clients with Business Rates mitigation.
Anthony Crocker – email@example.com or 01329 220111
Guy Jones – firstname.lastname@example.org or 023 8057 4510
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