Business Rate Revaluations
Rateable Values of all non-domestic property in England and Wales must be reviewed every five years. This ensures that Rateable Values are up to date and reflect changes in the property market.
The current rating lists took effect on 1 April 2010 and the valuation date was set at 1 April 2008, which is two years prior to the start date. Setting a uniform valuation date ensures that the value of all properties is assessed at the same fixed point in time, and ensures fairness for all ratepayers.
The next revaluation is due to come into effect on 1 April 2015 and all properties will have their rateable value assessed on the valuation date of 1 April 2013.
Further information about the new revaluation and the most recent one can be viewed on the Business Link website.
If you have experienced a substantial increase or decrease in your bill due to past revaluations you may be eligible for Transitional Relief.
If you have any query regarding the 2010 revaluation, please contact us (details below).
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