A Revaluation of commercial property in Scotland normally happens every five years, but the 2017 Revaluation is the first since 2010.
The impact of the first Revaluation of business premises in Scotland since 2010 will come as an unwelcome shock to many businesses as new rates bills land on their doormats. New Rateable Values took effect from 1st April 2017. The Rateable Value of a property is the figure upon which rates bill calculations will be based for the next five years. Some Rateable Values have decreased, some have remained unchanged and some have increased – often dramatically.
Regardless of what happens to the Rateable Value of a property, there is a right to appeal within a strict time limit. Failure to lodge an appeal within the required timescale will mean that the Rateable Value is deemed to have been accepted and that rates payments will be based on the new Rateable Value with no opportunity to negotiate.
At Shepherd, our Rating experts offer clients specialist knowledge, experience and expertise, providing a winning formula and offering a proven track record of successfully handling rating appeals and minimising client liability for rates. We act for a wide variety of clients, ranging from small neighbourhood shops to workshops, offices, public houses, hotels, restaurants, airports, ports, sawmills, SPL football grounds and almost everything in between.
We offer a comprehensive ‘start to finish’ rating appeal service, with the express aim being to minimise our clients’ liability for rates. We will advise on whether or not an appeal should be lodged, lodge an appeal within the statutory timescale and then follow this up with face to face negotiations with the local Assessor to ensure that the Rateable Value of our client’s property is as low as it can possibly be.
Most appeals are settled by negotiation, but on occasion appeals will require to be heard before local Valuation Appeal Committees or, in exceptional circumstances, appeals may proceed to the Lands Tribunal for Scotland. We will handle the entire process.
Rating is a specialist subject and we would urge ratepayers to seek professional advice as soon as possible. The final date for appeals following the 2017 Revaluation is 30th September 2017. Above all else, don’t sit back – the Rateable Value of a property is the only part of the rates bill calculation that can be challenged.