The British Property Federation has called on the government to set out a “roadmap” for moving to annual revaluations for business rates.
The government’s consultation on rates revaluations, which began in June, is closing tomorrow (24 August). It proposes three-yearly revaluations, replacing the existing five-yearly system.
Melanie Leech, chief executive of the BPF, said: “We need annual revaluations and transparency over how valuations are determined. More frequent revaluations is only one piece to the jigsaw.”
The BPF has also urged the government to reset the business rates multiplier at a fairer level, abolish downward phasing – where a deduction to a business rates bill, following a revaluation, is restricted – and provide extra business rates relief on empty properties.
The consultation additionally proposes removing the “check” stage of the check, challenge and appeal process, with ratepayers paying a new fee to submit a challenge in a three-month window.
Leech added: “The idea of taking away property owners’ rights to appeal is unjust – property owners have a legitimate need to interact with the rating system, including where they are not the ratepayer, and must retain this right.
“This is a vital tool that allows property owners to effectively market their properties and secure new tenants. With the number of boarded-up shop fronts on our high streets increasing by the day, this suggestion is non-sensical and demonstrates a fundamental lack of understanding or appreciation of the role that property owners play in creating thriving neighbourhoods across the UK.”
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