In our previous update about the forthcoming rates Scottish rates revaluation, which is due to take effect in April 2023 (which is attached along with some recent successes). This will impact on everyone. These new Rateable Values in conjunction with Rates Poundage (which has still to be announced for 2023/2024) will be the basis the new rates payments for the next 3 years from April 2023. Therefore it is very important it is acted upon, otherwise you will lose you right to reduce your business rates for at least 3 years from April 23
The main changes from the current revaluation being proposed are as follows:
- The time frame from making an appeal being reduced from 6 month to 4 months after 1st April 2023
- The onus to be on the ratepayer and their advisor to provide a detailed case, with survey/factual information, and evidence when they submit the appeal. In effect there would be a good bit of ground work required at the outset, whereas currently this is usually when the Assessor cites the appeal for discussion
- The Valuation Appeal Panels will become one national panel, changing from local panels
The Scottish Government has announced delays to the introduction of the new Regulations and the new Rates Appeal System coming into force. They are now scheduled be put front of Parliament on 12th/13th December 2022.
We understand draft Rateable Values are being released by the Assessors on 30th November 2022
The majority of the rating advisors, are still waiting for these Regulations to be published so that we know how best to advise our clients, what will be fully required to lodge successful proposals (appeal)
Our firm has a good bit of the survey and factual information for our existing client base, but many have added or vacated properties since 2017, so I am looking forward to working through the portfolios with them in the coming weeks. Also if any new potential clients that are interested in our services please get in touch as soon as possible because if the proposals are passed, then surveys will have to be undertaken and cases prepared early in the New Year.
Please feel free to contract me 07554009244 or visit our website www.businessratesadvice.com