|  | | Rating | | | The next re-valuation is due in April 2010 and we have commenced our preparation for this insofar as the relevant valuation date is April 2008.
The potential gains or losses imposed as a result of these five yearly re-valuations have in many cases been greatly distorted by transitional adjustments. These are intended to smooth out the effects of revaluation by only allowing rates bills to increase or decrease within certain tolerances on a year to year basis.
Ratepayers have the right to appeal against their new assessment on valuation grounds or any factual error in the way it has been reached. We have been able to achieve substantial savings on a diverse range of properties by challenging valuations imposed by the Valuation Office.
Particular attention should also be given to whether the assessment reflects the mode of occupancy and whether a split or merger should be considered.
For landlords holding vacant stock, the loss of empty rates relief from 1st April 2008 underlines the importance of ensuring that rating assessments are not excessive and the right of appeal is closely considered.
For further information please contact Jeremy Gilbert.
Case Study.
£40,000 reduction in rateable value negotiated on three floors comprising 26,600 sq. ft. within 15 Golden Square, London, W.1 on behalf of Ingenious Media.
 |
|
|
