The 2010 Rating Revaluation has now come into force; this affects all occupiers of business premises and owners of vacant commercial property throughout the UK. New rateable values are based on rental values at 1st April 2008.

The Impact of the Rating Revaluation:

• Significant changes in rates payable between different property types and geographic areas.
• Properties in Central London are the worst affected with some rateable values doubling.
• Properties in Greater London with a rateable value of £55,000 or more will have a supplement of 2p applied to their bills. This is to raise money for Cross Rail.
• The highest increases outside London are expected to be for those properties valued with reference to build cost - schools, hospitals, museums, galleries etc.

Actions:

• 2010 Rateable values can now be appealed. Take early action to review your new list assessment.

Since 2000 GVA Grimley achieved rates savings of over £1.4 billion. With the largest dedicated team in the UK we are best placed to advise you on the 2010 Rating Revaluation.

Contact us to discuss how our Business Rates team could help you reduce your liabilities.