The new Business Rates Revaluation will come into force on the 1st April 2023 with the draft list being published by the end of November.
Those Businesses who have yet to ‘appeal’ their Rateable Value will at the end of the Rating List 31st March 2023 no longer have the opportunity to do so.
There are a number of ways in which you can mitigate your liability for Business Rates. For example, at this point in the cycle there is likely to be a well-established tone or level of value within your building or local area. If any of these alterations are of material benefit to you, the opportunity to take advantage of this will be lost if the Check, Challenge, Appeal process has not commenced.
Similarly, if you have altered your premises by removing a mezzanine floor, or perhaps taken occupation of an adjoining office floor these are all areas of opportunity for the intervention of a Business Rates Specialist.
Our Solution: Should you have had any physical alterations to your property or consider your Rateable Value to be excessive or feel that you would benefit from having your assessment reviewed while you still have the opportunity our team at Aitchison Raffety can provide advice through this process.
We have a team of Business Rates specialists who have extensive experience in the valuation of property for rating purposes. Furthermore, we have many years of experience navigating the Gateway systems used for interacting with the Valuation Office.
The benefit is that the current rating list dates back to 1st April 2017 making any intervention on your Business Rates liability an opportunity to unlock six years’ worth of cash savings (dependent on when you took occupation of the property) which will directly impact your business.
If you would like advice on your property from one of our experienced Business Rates team, then please contact our team on 01727 732222 or email businessrates@argroup.co.uk
Article written by Rick Gibala, Director – Head of Business Rates and Thomas Shaw, Associate Director at Aitchison Raffety
