Posted: Monday, 23 March 2009 @ 18:16
This was publicised in the Telegraph today and is another piece of bad news for businesses struggling with their cashflow.
The rateable value of some properties rose or fell in line with changes in rental values after the last revaluation on 1 April 2005 and 'transitional arrangements' were in place to phase in the increase or decrease in the rate bill. The next revaluation will come into effect on 1 April 2010.
The current transition scheme operates over a four year period from 1 April 2005. This means every ratepayer will pay their true rates liability in year five (effective 1 April 2009).
As a result, all National Non Domestic Ratepayers, whose bills are currently affected by transition may notice a considerable change to their rates charge with effect from 1 April 2009.
If you are affected by the end of the transitional relief it may be worth taking advice from a specialist rating surveyor.
If you need further advice on how to make a ratings appeal then contact me for further information
Steve Petty, Commercial Property solicitor
For free advice on this topic please call us on 0845 003 5639.
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