1 April 2017 saw the introduction of new Rateable Values on all non-domestic properties in Scotland following the 2017 Revaluation.
The 2017 Revaluation was the first in seven years and directly affects the liability for payment of rates on all non-domestic properties in the country. Appeals against the rates revaluations must be lodged by 30 September 2017.
The impact of the Revaluation did not come as a complete surprise to many, particularly as politicians and business organisations had created a media storm highlighting some of the worst hit sectors of the market – both geographically and by business sector – and the impact that increased rate bills would have on businesses.
Proprietors, tenants and occupiers of all non-domestic properties in Scotland have the right to appeal their Rateable Value. Anyone who has not yet appealed still has time to do so, but they need to be quick – the last date for appeals to be lodged following the Revaluation is 30 September 2017.
The Rateable Value of a property is the only part of the rates bill calculation that can be challenged.
Whatever happens to the Rateable Value of a property – whether it has increased, stayed the same or even decreased – appeals should always be seriously considered. The bottom line is this – if you don’t appeal, you are accepting that your business may be paying more business rates that it might have to. It is not too late to act.
We strongly recommend that clients who have yet to lodge appeals against their new Rateable Value do so now, whilst there is still time to do so. Shepherd Chartered Surveyors are our recommended rating experts. Please contact Hannah Currie for further information.