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Plans for the Government to forge ahead with reforms to speed up the business rates appeals process have been welcomed by commercial property agent Prop-Search.
It was announced in this year’s Queen Speech that the Government, as part of a new Enterprise Bill, will seek to legislate to improve the business rates system ahead of the 2017 revaluation by modernising the appeals system and introducing business rates appeals reform, including modifying the Valuation Tribunal powers to consider ratepayer appeals. It will also allow the Valuation Office Agency (VOA) to share information with local government to improve the system for all.
Samantha Jones, an Associate Director of Prop-Search, said: “At the moment, the VOA is limited in what it can disclose under the Commissioners of Revenue & Customs Act 2005. As a result, many appeals are made just to try draw out the information that reveals on what basis ratings have been made. More information means that the number of appeals should reduce and that local authorities should be able to more accurately predict what business rates they are likely to receive.”
The British Property Federation was very quick to comment on the announcement and has broadly welcomed the news of reform saying; “the current system is out-of-touch and badly needs reform if we are to create an environment in which businesses can flourish and are able to invest in our towns.” It added; “while it is good to see that the appeals system will be scrutinised, this should not be seen as a substitute for fundamental reform that makes business rates more responsive to the wider economy. A fairer, more flexible system will in itself reduce appeals as bills return to a level that businesses across the country are able to pay.”
Samantha Jones added: “The Queen’s Speech also promised other reforms, including changes to Valuation Tribunal powers to consider ratepayer appeals, although details are still vague at this stage. But in general, the Government is urged to push ahead with a more radical reform of the business rates system, currently the subject of a HM Treasury review.”
Further information or advice can be obtained from Prop-Search - Tel: 01933 223300 / 01604 492000 or its website: www.prop-search.com