2017 Non-Domestic Rating Revaluation – Business Rates
2017 Rateable Values
With effect from 30/9/16 draft 2017 Rating list assessments are available on the VOA website. Some types of property have gone up and some down depending on sector and location.
No formal “Checks” under the new Check Challenge and Appeal procedures can be started until 01/04/17.
Draft Transitional scheme arrangements are out to consultation until the end of October 2016.
The scheme limits the maximum increases year on year in rates bills where liability has increased and restricts lower liability in a maximum reduction allowed year on year.
The amount you pay is calculated by your rateable value X the multiplier, the resultant amount may be affected by transition.
The multiplier has been set (in draft) at £0.48 which is a 1.7 pence reduction on last year. That is before any additions for supplements e.g. Crossrail.
The reduction in the multiplier will offset some of any increase in RV where an increase is notified.
Wilks Head & Eve Assistance
Wilks Head & Eve can advise on the draft list figures and estimate your liability. No formal challenge or appeal can be made until after the 01/04/2017.
Date published: September 29, 2016