Rateable Value Appeals 2017

Benefit from the lowest fee that GVA Barr offer. 5% no win, no fee, no hidden costs*

Extended to ALL St Andrews businesses through BID St Andrews

February 8th saw GVA  come to St Andrews to shed some light on the rates revaluation that is due to come into effect on 1st April 2017 and to help us understand how and why we should appeal these changes.

This information still applies to business who are eligible for the 12.5% ‘hospitality cap’. This cap only applies for one year, at which point your rates bill will revert to being based on the new revaluation amount. It will be too late to lodge an appeal at this point and you will be liable to pay these revised rates until 2022.

If you are eligible for the one year ‘hospitality cap’ but still feel that your revaluation is wrong, then you must lodge your appeal before the 30th September 2017. Any appeals lodged after this date will not be considered.

Summary

  • A rateable value is a hypothetical rental value of a property at a given valuation date. This value is arrived at by an analysis of rents, costs and turnovers for a local area.
  • What you pay is a percentage of that rate, multiplied by the UBR (uniform business rate) more commonly known as the poundage. The UBR or poundage is set by the Scottish Government. In 2010 the UBR was 48.4p in the £. In 2017 that rate will decrease to 46.6p in the £. This will result in some business’s rates charge decreasing despite a small rateable value increase.
  • Business rates are set by independent local Assessors.
  • The Assessor is legally obligated to take no regard of the previous rateable value of a business, taking a ‘Fresh Look’ when valuing the property, as it is, on a given date.
  • Business rates are collected by the Billing Authority, in this case Fife Council. Fife Council have no say in rateable values.

Reliefs

  • Small Business Bonus (funded by the large property supplement) for Revaluation 2017 and applies on the total RV of all your business properties
  • Total RV up to and including £15,000
    • 100% Relief
  • Total RV greater than £15,000 and up to and including £18,000
    • 25% Relief
  • More than one property and combined RV greater than £18,000 and less than £35,001
    • 25% Relief on any properties below £18,000
    • If you have more than one property and the total rateable value of both properties is greater than £35,000 then you are liable to pay 100% of rates.

Appeals

  • Remember that revaluation is a ‘Fresh Look’ at a property and is in no way affected by the previous RV of a property. The deadline for appeals is the 30th September 2017. Late appeals are generally not accepted. After 30th September if no appeal is served then the RV is deemed ‘settled’ and will form the basis of liability until 2022.

 

What won’t achieve a reduction in RV:

  • Complaining about the level of local services;
  • Complaining about the increase in RV between 2010 and 2017;
  • Asserting that the business will not survive without a reduction in the rates bill.

Business’s eligible for the 12.5% hospitality cap should note that:

  • This cap only applies for one year.
  • If you feel that your revaluation is incorrect then you must appeal before the 30th September like everyone else.
  • If you do not lodge an appeal before 30th September, you will be liable to pay the revised rates from April 2018 until April 2022

 

Most appeals will be settled before they reach a hearing. Only around 1% of appeals end up before a Valuation Appeal Panel.

Hearings are both costly and time consuming. It is in the best interests of both parties that appeals are settled by negotiation.

 

Why appeal with GVA Barr?

GVA are one of the largest, most successful and integrated rating consultancies in the UK. The team who will be working with St Andrews businesses were previously Senior figures within the Fife Assessors office and both know the local area well. They also have excellent working relationships with the current Assessors and have an intimate knowledge of the legislation covering appeals.  They are therefore best placed to help you launch a successful appeal where appropriate.

By coming together as a collective GVA James Barr are willing to offer the business of St Andrews an incentivized fee of just 5% of any savings achieved through any mitigation work including appeals, reliefs, exemptions or initiatives – offering no win, no fee and no hidden costs, they will:

  • Inspect each property
  • Lodge all appropriate appeals
  • Enter Negotiations with the Assessor
  • Report outcome and advise/recommendation

If they find that your rateable value is correct they will advise you to withdraw your appeal. You will incur no cost if this is the case. There is no risk to your business to have your rateable value checked by GVA Barr experts.

In the highly unlikely event that your appeal goes before a Valuation Appeal Panel, RICS rules preclude an incentivised fee basis, and would incur further costs. As previously stated, most cases are settled by negotiation and no additional such costs would be incurred without your specific approval.

If you were unable to attend the meeting on Wednesday 8th Feb, but are still interested in appealing your rates, then please contact:

Contact

Gordon Martin, Senior Director, Business Rates, GVA

Tel: 0131 2558001, Mobile: 07962352621

Gordon.martin@gva.co.uk

Kevin Elder, Director, Business Rates, GVA

Tel: 01314696066 Mobile: 07944728927

Kevin.elder@gva.co.uk

Don’t forget to quote ‘BID St Andrews’ to be eligible for this offer. The offer is extended to all St Andrews businesses, not just those in the BID area, as BID St Andrews feel it is in the best interests of the business community as a whole to collaborate on this issue.

BID St Andrews would like to extend thanks to The Old Course Hotel for facilitating the town deal with GVA Barr.

*BID St Andrews are not financially affiliated with GVA James Barr in any way, and receive no commissions from successful appeals.

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