Business Rates are taxes paid by all companies that occupy, or lease commercial property.
The Valuation Office (VOA) has recently published the new draft rateable valuations. The VOA will not be sending out summary valuations to ratepayers and instead the information is available online. To check your new draft rateable value please click here.
The way your property is valued and how your rates are calculated remains the same, however the multiplier for the 2017/18 rate year has also been outlined (for England) in the latest Consultation paper published on 28 September. The smaller business multiplier is estimated to fall to 46.6p with the larger 'standard' multiplier to 47.9p.
If you believe the draft rateable value is incorrect representations can be made if there is evidence of a mistake, however the new three stage process currently outlined is complicated and we recommend professional advice is sought.
If you would like further information or to discuss your business rates, please contact a member of the Picton team.