Business rates news
Govt’s Rating Revaluation Misleading
Source – British Property Federation
Details released by the government on the effects of the 2010 rating revaluation is misleading, according to the latest research published by BNP Paribas Real Estate.
The government states that there will be modest shifts in liability across England, ranging from -7% decreases to a rise of just 5% across all regions [...]
Business leaders join Westminster in criticising rates revaluation
By David Doyle – Property Week
Westminster City Council and central London have criticised the latest rates revaluation which could lead to central London businesses pay an extra £500m a year.
The council, which collects £1.2bn a year in rates, more than any other local authority in the UK, said that businesses in the capital will be [...]
Rates revaluation could hit small firms hard
Source: Buildiners Merchants News
KNUTSFORD: Business properties are revalued every five years to ensure that rateable values reflect the changes in the property market.
However, because the present revaluation is based on rent prices from April 2008, before the recession and when property prices were high, small businesses are concerned that, despite the recent slump in the [...]
Business Rates Revaluation Would Have A Crippling Impact On the Capital’s Economy says London Councils
Source: London Councils
The government’s revaluation of business rates will prove hugely damaging to businesses in the capital as they try to recover from the impact of the recession, London Councils has warned.
In March this year, London Councils’ Chairman Councillor Merrick Cockell wrote to the Chancellor Alistair Darling, to warn him of the crippling effect that [...]
Businesses get rate revaluation Businesses get rate revaluation 12:07pm Thursday 1st October 2009
Source – Property Week
More than a million businesses are finding out that their rate bills will fall next year as a result of the five yearly revaluation of property, the Government has announced.
The Valuation Office is letting businesses in England know their new rateable values ahead of bills being issued next March, with almost two [...]