By Diana Sterck
It’s been a long time coming and seems to have arrived without much publicity – but we want you all to know that all business premises in the country have been revalued by the Valuation Office Agency and this could affect the amount of business rates you pay from April 2017.
It doesn’t take long to check it out at www.gov.uk/voa/revaluation
Type in your address and postcode.
Check the details held for your property match those on your current business rates letter (address, the amount of business space that you occupy and what you currently pay).
Then decide whether you want to take action:
- You can appeal if you think the revaluation is inaccurate (and there are agencies who specialise in this area of work)
- You might be eligible for small business rate relief if your rateable value is under £12000 pa
Until the business rates multiplier is determined for the 2016-17 year then it is difficult to know what the impact on the cost to you might be.
From our assessment, values have largely increased, with a small number of premises going down in value.
Act now to see what it means for you.