Hidden away in the small print of the Government’s Autumn Statement of 3 December 2014 is a new and unexpected change to current rating legislation and the rates appeals system. Currently a successful rates appeal allows a ratepayer to claim a rate refund back to the start of the Rating List (1 April 2010) or the event triggering the rateable value reduction, if later. The proposed change is that only rating appeals made before 31 March 2015 will be able to claim rate refunds back to April 2010. From 1 April 2015, any new appeals will only be able to generate rates savings for up to 2 years from that date to 31 March 2017.
Andrew Kilpatrick of Kilpatrick & Co said “All ratepayers need to urgently check that appeals have been made on any properties where a rate refund might be achievable and instruct a reputable rating surveyor to make a valid appeal before 31st March. Otherwise ratepayers could lose out on 5 years of rates refunds!”
The Government recently confirmed that 1 April 2015 is to be the valuation date for the 2017 Rating Revaluation. Hence any rent reviews, lease renewals or lettings around this date will have extra significance as the outcome could affect that property’s rates liabilities up to 2022.
Kilpatrick & Co’s latest Rates Newsletter is available on request, free of charge, covering details of the Uniform Business Rate for 2015/16, amendments to Retail Rate Relief, Small Business Rate Relief, Transitional Arrangements and other new developments in rating.
