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Rating

The rating system is a complex method of raising tax from business premises. The Rateable Value of a business premises is assessed by the Valuation Office Agency (VOA), the government body charged with preparing the rating list in England and Wales.  The RV is based on the VOA’s opinion of the rental value of the premises at the relevant valuation date for that rating list based on various assumptions. The rating list is generally to be revalued every 5 years, though this may vary. The RV is used by the local authority in which the property is located to raise tax. This is calculated by multiplying the RV by the Uniform Business Rate (UBR). The UBR is altered each year and rates are demanded annually from 1^st April. There are various reliefs and allowances available to add to the complication.

Business rates are payable on occupied and unoccupied business property, and whether you are a business paying rates on occupied property, or an owner with empty property paying rates, you need to be satisfied that you are paying the correct amount.

We have reviewed and successfully appealed many rating assessments for clients. Appeals against a rating entry should always be undertaken by a qualified Rating Surveyor or Chartered Surveyor.

Contact: Jonathan Webber FRICS IRRV.