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Glazers Chartered Accountants,
843 Finchley Road, London, NW11 8NA.
T: 020 8458 7427, F: 020 8458 8504
E: quality@glazers.co.uk
843 Finchley Road, London, NW11 8NA.
T: 020 8458 7427, F: 020 8458 8504
E: quality@glazers.co.uk
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NewsBusiness NewsBusiness News 2009Business Rates Revaluation 2010
Business News 2009
Business Rates Revaluation 2010
Every five years all non-domestic (business) properties are re-assessed and given new rateable values by the Valuation Office Agency (VOA). This is not a revenue-generating exercise, but it does affect most businesses.
Why is the revaluation done?
To ensure rateable values reflect the changes in the property market.
When will it happen?
The 2010 revaluation has been done and new draft rateable values have just been sent to ratepayers – you will also find them at www.voa.gov.uk/2010.
What will this mean for my business?
It's likely your rateable value will increase significantly, although you might well see a reduction in your rates liability in 2010. This is because of an unusually low multiplier. However, don't forget that the effects of this revaluation last for at least five years.
What should I do now?
You need to check that the details in the box shown at the bottom of your revaluation letter are correct – address/category/area etc.
Any errors need to be reported to the VOA by 30 November 2009.
Can I Get Help?
Yes. Glazers will be pleased to put you in touch with Chartered Surveyors who are experts in checking your rates valuation, and advise you if an appeal is necessary.
Email Stewart Okin or Russell Black, or call us on 020 8458 7427.
