COUNTDOWN TO
The next business rates revaluation for non-domestic properties
in England, Scotland and Wales will come into effect on 1 April 2017.
BACKDATING
DEADLINE.
Any alterations made
by the VOA after
this date will only
be backdated to 1
April 2015 unless it
is in respect of an
appeal made before
31 March 2015.
However, there is
still a window of
opportunity up until
31 March 2016 from
which to secure
backdating to an
earlier effective date.
THE DRAFT 2017
RATING LIST IS
PUBLISHED.
This time should be
used to identify any
factual errors in the
RVs ahead of the new
Rating List coming
into effect. Unlike
previous years, the
Draft Rating List will
be published ONLINE
only and information
for properties valued
on the basis of
building costs or by
reference to receipts
will NOT be made
public.
THE NEW RATING
LIST COMES INTO
EFFECT.
The challenge
process against
individual list entries
can now be initiated.
16
31
30
1
2016
2016
2016
That's seven years since the last revaluation and nine years since the antecedent valuation date, when rental and other
transactional information was gathered in order to set the current Rateable Values (RVs). A lot has changed since then.
The Valuation Office Agency (VOA) is already well underway with its preparations, collecting and analysing information
on over 1.8m properties across England and Wales. A similar exercise is also taking place in Scotland.
However, the length of time which has passed since the current RVs were set, and the series of economic events
that have taken place in between, have led to diverse swings in property values across all sectors and areas of the UK.
Consequently, we believe there is scope for error in valuation and accuracy.
The Business Rates system in England is also poised for significant reform, with consultation currently underway by the
Department for Communities and Local Government (DCLG) – the outcome of which will affect the
way rateable values are challenged going forward. It is therefore important to take professional
advice before submitting any information to the VOA.
MULTIPLIER
This guide sets out several key dates that all ratepayers need to be aware of.
FOR 2016/17 TO
BE CONFIRMED.
1
COUNTDOWN TO
Ongoing
STATUTORY
FORMS OF RETURN
DISTRIBUTED BY
THE VOA.
It is vital that these
questionnaires
are completed as
accurately and
swiftly as possible.
By March 2016, this
information will be
used to determine
more accurate levels
of assessment. Failure
could also result in a
£100 fine.
4
APR
JAN
ANTECEDENT
VALUATION DATE.
This is the backdated rental and
transactional valuation date upon
which the 2017 RV will be based.
Representations can be made to
the VOA in order to influence their
approach, particularly where the
property is not within the bulk
class category of offices, retail
and industrial. Rental, building
cost and turnover information
from around this date will be
critical in setting the RV from 1
April 2017. However, any physical
changes to the locality, property
or environment between 1 April
2015 and 1 April 2017 must also
be taken into account.
DCLG CONSULTATION
ON BUSINESS RATES
APPEAL PROCESS
CLOSES.
Views from businesses
and other interested
parties in response to
the consultation paper,
which sets out a threestage ‘Check, Challenge,
Appeal’ approach, should
be submitted before this
date.
2015
2016
SUMMER BUDGET.
The DCLG’s longawaited report into
the Business Rates
review will hopefully
be announced.
BUSINESS RATES
DEMANDS FOR
2016/2017 ARRIVE
IN MARCH.
FEB MAR MAR SEP
2016
REDUCE YOUR LIABILITIES
At Lambert Smith Hampton, we manage our clients’ business rate liabilities.
We outperform the industry settling 57% of all appeals with a reduction against
an industry average of 37%. Our average reduction on these successful appeals
is 13.5%, compared to a total national average of just 2.85%.
Our business rates experts can:
• Assist with completion of the statutory Form of Return and ensure accurate
revaluation;
• Provide estimates of the likely rates payable from 1 April 2017 onwards;
• Check the draft rateable values for accuracy once issued;
• Explore opportunities for challenging the new rateable values and making
appeals as appropriate;
• Explore current opportunities for reducing the 2010 rating list entry, historic
rate liability audit, business rate payment and management to maximise
savings.
APR
2017
Find out how we can help
you in the lead-up to the
2017 revaluation.
Email us at:
Rating@lsh.co.uk
Or visit us at:
www.lsh.co.uk
COUNTDOWN TO
ABOUT US
We are a commercial property consultancy working with investors, developers and occupiers in both the public and private
sectors across the UK and Ireland.
Amazon to Zurich: we have partnerships with the complete A to Z of the best organisations in Britain and Ireland.
Transport to telecoms: we have experience of an extremely wide range of sectors.
Capital markets to construction consultancy: we serve an incredibly diverse range of commercial property disciplines.
We value lateral thinking and celebrate enterprise, with a focus on delivering more for our clients.
By looking beyond the obvious, we consistently generate impressive results.
For further information please contact:
Paul Easton
National Head of Business Rates
+44 (0)191 338 8277
peaston@lsh.co.uk
Philip Clarkson
Director, Leeds
+44 (0)113 887 6757
pclarkson@lsh.co.uk
Bob Harlow
Director, Wales
+44 (0)1792 702 82
bharlow@lsh.co.uk
Beverley McDougall
Director, Manchester
+44 (0)161 242 8032
bmcdougall@lsh.co.uk
David Rainsford
Director, Birmingham
+44 (0)121 237 2351
drainsford@lsh.co.uk
Mark Clapham
Director, Birmingham
+44 (0)121 237 2373
mclapham@lsh.co.uk
Paul Fallon
Director, Scotland
+44 (0)141 226 6792
pfallon@lsh.co.uk
Andrew Martin
Director, Nottingham
+44 (0)115 976 6616
amartin@lsh.co.uk
Paul Nash
Director, London
+44 (0)20 7198 2150
pnash@lsh.co.uk
Paul Stevens
Director, Bristol
+44 (0)117 914 2006
pstevens@lsh.co.uk
OUR OFFICE NETWORK
Belfast
+44 (0)28 9032 7954
Chelmsford
+44 (0)1245 215521
Galway
+353 (0)91 865 333
Leicester
+44 (0)116 255 2694
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+44 (0)1628 676001
Northampton
+44 (0)1604 664366
Sheffield
+44 (0)114 275 3752
Birmingham
+44 (0)121 236 2066
Dublin
+353 (0)1 673 1400
Glasgow
+44 (0)141 226 6777
Liverpool
+44 (0)151 236 8454
Nottingham
+44 (0)115 950 1414
Solent
+44 (0)2380 461 630
Bristol
+44 (0)117 926 6666
Edinburgh
+44 (0)131 226 0333
Guildford
+44 (0)1483 538181
Oxford
+44 (0)1865 200244
Southampton
+44 (0)23 8033 0041
Cambridge
+44 (0)1223 276336
Exeter
+44 (0)1392 880 180
Reading
+44 (0)118 959 8855
Southend-on-Sea
+44 (0)1702 417 951
Cardiff
+44 (0)29 2049 0499
Fareham
+44 (0)1489 579579
Leeds
+44 (0)113 245 9393
+44 (0)113 245 8454
London
+44 (0)20 7198 2000
+44 (0)20 7955 8454
Manchester
+44 (0)161 228 6411
+44 (0)161 833 1197
St Albans
+44 (0)1727 834234
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+44 (0)1792 702800
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+44 (0)1582 450444
Milton Keynes
+44 (0)1908 604630
Newcastle upon Tyne
+44 (0)191 232 6291
Details of Lambert Smith Hampton can be viewed on our website www.lsh.co.uk
Due to space constraints within the report, it has not been possible to include both imperial and metric measurements.
© Lambert Smith Hampton December 2015.
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