Following the ‘two tranche’ consultation exercises on the Government’s fundamental review of the Business Rates system in 2020, their final report has now been made public.
Whilst the timings for implementation of their proposals are not fully clear, the report includes changes such as:
- A switch to more frequent revaluations (three yearly) from April 2023 onwards
- A duty on occupiers of rateable property to notify the Valuation Office if changes are made and to provide lease / cost evidence related to them
- The removal of the ‘Check’ part of the Check, Challenge, Appeal process and the deadline for the ‘Challenge’ process.
- Introducing new measures to support green investment in non-residential premises, with exemptions for the installation of certain eligible plant and machinery such as solar panels and battery storage.
The full report can be downloaded here
Matthews & Son LLP have long standing experience in dealing with Business Rates for Minerals, Waste Management and Energy properties going back through successive Rates Lists.
To discuss your Business Rates further, contact Paul Malam or Sian Holmes