With the process for adjusting business rates now underway, the Scottish Assessors will use rents as at 1 April 2015 (known as the Tone Date) to calculate future business rates liability from April 2017 as part of the Rating Revaluation.
Linked to this, occupiers are being sent an important document – Returns of Information forms. Ryden advises that these complex documents should be carefully completed by an RICS qualified surveyor. They must also be submitted by the deadline with the current rent and all other information required by the Assessors to avoid costly mistakes in bills. See our article for more on Returns of Information forms and why you need to act now.