Business rates are an annual charge based on a property’s Rateable Value multiplied by the Uniform Business Rate set annually by the Scottish Government in Scotland and the Government in England.
Rating Revaluation 2010
The Rateable Value is re-assessed every five years and the next Revaluation of all non-domestic property in England, Scotland and Wales will take effect from 1 April 2010. A Revaluation is carried out to ensure that Rateable Values keep pace with the changes in the property market. A right of appeal against the Rateable Value is permitted in accordance with statutory terms and timescales.
Ryden specialises in offering rating revaluation advice and our expertise covers a wide spectrum of commercial property types including industrial, office, retail, public houses, hotels, sports facilities and educational establishments.
Our aim is to reduce occupiers’ liability wherever possible. We can help you by:
- Appealing against rating assessments where appropriate.
- Auditing business rates liability both prior to payment and after a successful appeal.
- Advising on potential savings obtainable through vacancies, building works, business rates relief or any other material change in circumstances having an effect on value.
- Providing an on-line reporting programme detailing the current status of all appeals as well as details on both existing and estimated future liability. The system allows for the inflation indexation of the uniform business rate to enable budgeting over the Revaluation period.
Scottish Rating Revaluation 2010 Timeline
| 1 April 2008 | Valuation date for 2010 Revaluation. Rental values on this date form the basis of the assessment. |
February/March 2010 |
The Assessor will begin to issue Valuation Notices. |
| 1 April 2010 | The new 2010 rateable values come in to effect for a five year period. The Appeals process for the 2010 revaluation commences. |
30 September 2010 |
Appeals must be lodged on or before this date, or six months from the date of issue of the Valuation Notice. |
English Rating Revaluation 2010 Timeline
| 1 April 2008 | Valuation date for 2010 Revaluation. Rental values on this date form the basis of the assessment. |
September 2009 |
The Valuation Office publishes the draft list of new rateable values. There is a six month lead in period before the assessments become effective. |
| March 2010 | Local authorities will use the new rateable values to calculate rates bills based on the new Uniform Business Rate for 2010/2011. |
1 April 2010 |
The new 2010 rateable values come in to effect for a five year period. The Appeals process for the 2010 revaluation commences. |
