2010 Rating Revaluation

The revaluation process, which determines the business rates liability of all commercial properties across the UK, is now underway. The cost implications for your business, in the event of an unfavourable valuation, could be significant. Conneely Tribe can help to reduce your liability. We have extensive experience in successfully negotiating rating appeals throughout the United Kingdom.

Revaluation and your premises

What is the Revaluation?

It is the updating of your rateable value and the setting of a new Uniform Business rate (UBR) together with new transitional arrangements.

The Valuation Office Agency conducts rating revaluations on commercial premises every five years. The next Revaluation will be 1st April 2010. Your new rateable value will be based on the Valuation Officer’s opinion of rental value, for your premises on 1st April 2008.

How are your rates payments calculated?

Rates payable are calculated by multiplying the rateable value by the UBR, taking into account any transitional arrangements. The new UBR, set at the beginning of the Revaluation by the Government, will increase annually by the rate of inflation.

Transitional arrangements phase in the combined effect of the new rateable value and the new UBR by limiting increases and decreases in liability.

What can I do to reduce my liability?

An appeal against your new rateable value can be lodged from 1st April 2010.

Audit the rate demands for errors.

Conneely Tribe would recommend that you consider investigating not only the new rateable value, but also your current rateable value, which may produce savings beyond 1st April 2010 due to transitional arrangements.

What should I do?

Seek advice from surveyors who specialise in rating appeals and are members of the Royal Institution of Revenues, Rating and Valuation (IRRV).

Conneely Tribe has the professional expertise to carry out a thorough investigation and our experience has shown that considerable savings can be made.

Conneely Tribe has been selected by the RICS to appear on its list of firms supporting Rating Advice Helpline. This Helpline aims to provide ratepayers with free initial advice, without obligation.

Please contact Paul Tribe or Michael Conneely for further information. We are happy to consider performance-based fees with no upfront costs.