Business rates – how much will it cost you?
Business Rates are a substantial cost for most businesses and there are key changes coming up on 1 April 2015.
• New business rates appeals on or after 1 April 2015 will only be effective from that date. So if you want to appeal your current assessment and backdate it to 1 April 2010 you need to appeal before 1 April.
• 1 April 2015 is also the next revaluation date. The open market valuation at this date will be the valuation used for business rates from 1st April 2017.
• Over the next year the Valuation Office will be sending out “Requests for Information” regarding the rent you pay and your lease terms. Pay careful attention to this as it will directly affect the business rates you pay in the future.