Businesses throughout the country should now have received Rating Revaluation Notices with effect from 1 April. The rateable value of a property is the Assessor`s estimate of its annual rental value on the open market on a fixed date – 1 April 2003 for the new revaluation – assuming it was let on usual full repairing and insuring terms.

On the whole it appears many rateable values have increased only nominally or even reduced in value while a few areas have seen a reasonable uplift. The uniform business rates for Scotland, England and Wales has gone down this year as well and the 5% rate relief for small businesses with rateable values under £10,000 has been retained.

Experience has shown that where properties have a rateable value of less than £10,000, there is usually little margin for a significant reduction in the valuation.

In recognition of the fact that valuation is not an exact science, an opportunity exists for an appeal against the new Rateable Value. Appeals must be lodged by 30th September this year.

J & E Shepherd is in a position to lodge appeals on your behalf appeals and will then enter into detailed negotiations with the assessor with a view to minimising your rating outlay. While centrally controlled, with our national coverage of offices we do have local knowledge to put up a good argument that would hopefully secure a reduction. For further information contact your nearest J & E Shepherd office to discuss further.