BUSINESS RATES

Business rates form a large part of the occupation costs of non-domestic property.

The 2017 Rating List ends on 31st March 2023. An appeal by a ratepayer against an assessment in the 2017 Rating List must be made on or before the 31st March 2023. Notional rental values or other valuation information for the 2017 Rating List are based upon an antecedent valuation date (AVD) of the 1st April 2015.

The 2023 Rating List comes into effect from 1st April 2023. Following the Autumn Statement on 17th November 2022, various changes to the rating system have been made, including:

  • The Uniform Business Rate (UBR) will be frozen at 49.9p in the £ (small properties) and 51.2p in the £ for all other properties for the rate year 2023/24
  • The List will run for three years, the last day being 31st March 2026
  • AVD will remain as 1st April 2021
  • Removal of downward transitional relief, where the Rateable Value has gone down in the new Rating List
  • Small Business Rate Relief (SBRR) will remain at 2017 Rating List levels, with capping on increases
  • Retail and Leisure will enjoy 75% relief for 2023/24 capped at £110,000 per business.

Along with our consultant rating surveyor we provide a comprehensive Business Rates service including review, advice, projections, appeals, rate mitigation and Form of Return completion. We have accumulated considerable rental evidence through Mass & Co with which to challenge assessments under the rating list.

We have many years’ experience and a successful track record dealing with rating appeals. For an initial discussion on business rates, please contact Christopher Stewart BSc FRICS

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The Royal Institution of Chartered Surveyors was founded in 1868 and is now responsible for around 120,000 members worldwide. Its members are subject to regulation and periodic review as well as operating to strict Rules of Conduct.

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