Tomorrow (September 30) new rateable values are being published by the Valuation Office Agency (VOA), giving businesses throughout England and Wales the opportunity to view the proposed changes in business rates before their introduction in April 2017.
The new values signify the first re-assessment in seven years and are based on the open market value of a commercial property from 1 April 2015. The revaluations are are expected to cause a considerable hike in business rates and from tomorrow businesses can check the information and alert local councils to any discrepancies
The business community has long been campaigning for a change in the system that will see these revaluations carried out on a more regular basis, eliminating the need to appeal unfair rates.
To find out what your new business rates might be, visit the VOA’s website and register your email address.