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UK Business rates, Facts and Figures

Guide 2019-2020

The 2017 Rating List came into force on the 1st April 2017 and this heralded significant changes to Business Rates. The most notable change to rating in England is the introduction of Check, Challenge and Appeal (CCA). This is a new 3 step process to allow ratepayers to challenge and appeal their rateable value. Further details can be found on the Valuation Office Agency website. Although the overall amount collected through Business Rates remains largely the same after a revaluation, the rates charged on individual businesses will vary significantly depending on changes to their Rateable Value (RV). It is important to understand that an RV is the Valuation Office Agency’s estimate of the annual rental value of the property as at a statutorily fixed valuation date. This date is always fixed two years before the list commences and the 2017 valuation list antecedent date is 1st April 2015. The last time properties were revalued was April 2008 and it is the change in the property market over these seven years which has caused the significant changes in rateable values and Business Rates payments. The next valuation list will come into force on the 1st April 2021.

Using this guide

In order to fully benefit from this guide, ratepayers will need to know their current RV. This can be found on any rate demand or on the Valuation Office Agency (VOA) website (www.voa.gov.uk). By applying the relevant adjusted Uniform Business Rate (UBR) multiplier to the respective RV the initial liability can be established.

Ratepayers can then use the information contained in this guide to check if they have entitlement to any reliefs or exemptions. Once these are applied, the chargeable amount will be calculated for the year. In certain cases, the above calculations may result in a different amount from that demanded, this would mainly occur when the property is subject to the transitional relief provisions. If this is the case, then the phasing limits on changes in liability can be found in this guide for England, Scotland and Wales.

 

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