Dec 2014

  1. Tank farm valuations

    Initial discussions have taken place with the Valuation Office Agency in an attempt to agree 2017 Revaluation base values for tanks.

    The VOA are under pressure to produce a draft scheme by March 2015 and finalise discussions by June 2015.

    Their starting point at present is the respective index points from 2008 to current day on the BCIS Plant & Machinery Index. This produces an uplift from 82.1 to 100.9, i.e. 23% increase.

    We are … Read more

  2. VOA backs current revaluation cycle

    In a paper published on the 12th of December the VOA appears to have come out in favour of maintaining five year revaluation cycles.

    In our view, they are missing a point – duration is as important as volatility to vulnerable sectors of the market. Prolonging the distress of many in the retail sector by postponing the Revaluation to 2017 in order to benefit those already paying too little relatively is unacceptable.… Read more

  3. Business Rates avoidance discussion paper published

    The Department for Communities and Local Government has published a discussion paper asking for ideas on ways to curb empty property rates avoidance.

    Aside from seeking to demonise ratepayers who use perfectly legal means to mitigate their liability by comparing them to “law abiding ratepayers” the paper seems to miss the obvious point. The changes to empty rates made in 2008 are not working as intended and should be reversed as soon as possible.… Read more

  4. Property Owner Business Improvement Districts

    The Business Improvement Districts (Property Owners) (England) Regulations 2014  were signed on 1 December 2014 and came into force on 2 December 2014.

    The regulations stem from powers conferred by the Business Rates Supplement Act 2009 and allow for property owner Business Improvement Districts to be promoted where a Business Rate Supplement and a ratepayer Business Improvement District are in place (currently only in London).… Read more

  5. Provisional English UBR announced

    The Department Of Communities and Local Government has issued a Business Rates Information Letter in response to the Autumn Statement. In it they have announced that using inflation capped at 2% from 2.3% the Small Business UBR for 2015/16 will be £0.48

    The same letter also announced that the supplement to large properties to fund Small Business Rate Relief will increase from 1.1p to 1.3p. This means that the Large Business UBR will be £0.493… Read more

  6. Autumn Statement 2014 Changes to Business Rates

    • Business rates administration review: interim findings – The government will publish its interim findings in December 2014, setting out a summary of stakeholder responses and providing an update on how the government proposes to respond to businesses’ calls for clearer billing, better sharing of information and a more efficient appeals system.
    • Small Business Rate Relief (SBRR) – The government will extend the doubling of SBRR for a further year from 1 April 2015. MUA comment;
    … Read more