Business rates: do you feel lucky?

Retailers that are appealing business rates from the last round of assessments in 2010 could face a further wait of two years to find out if they have been successful.

Business rate experts CVS Business Rent & Rates Specialists discovered the additional delay from a Freedom of Information request. It found almost one in five appeals to the Valuation Office Agency are waiting for a hearing, and one in six can expect a delay of a further two years.

Information obtained under the Freedom of Information Act, revealed that 196,360 rates appeals from 2010 property tax assessments are now with the Valuation Tribunal Service for an independent public panel hearing - seven years after the start of the last tax regime.

"The Valuation Office Agency have entered a new tax regime with new regulations effectively with one hand tied behind their backs," said Mark Rigby, CVS chief executive.

"Businesses with appeals still outstanding from 2010 property assessments could face at least another two years wait to have them resolved given the backlog within The Valuation Tribunal.

"Those businesses facing huge hikes in rates from the new 2017 property assessments, under the new Check Challenge Appeal system, could face a maximum wait of three years to have their appeals resolved without additional financial resources for the Valuation Office Agency from Government."

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Louise is the editor of Retail Express, which reaches more than 50,000 stores every fortnight. Retail Express is the start of the journey for every independent convenience retailer, providing key news stories and effective, easy-to-implement advice. Louise can be found on Twitter at @RetailExpress and @LouiseBanhamRE; on louise.banham@newtrade.co.uk; and 020 7689 3353.

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