Dear Rt Hon Sajid Javid MP,
I am a surveyor who has been working in London in the field of business rates consultancy for the last 40 years.
During this time, I have borne witness to several business rate revaluations, but none as uncertain and lacking in clarity for businesses, as the 2017 Revaluation.
I am disappointed and concerned that, just weeks away from the commencement of the next rating revaluation, there remains no confirmation of the Rating Appeal and Valuation Tribunal Regulations.
Not only does this mean that businesses are unable to plan for how revaluation will affect them, it also means that they are unable to understand in more detail what the operation of the regulations will mean to them.
As the effects of Brexit continue to cause uncertainty for many of my clients, what they need – now more than ever – is the certainty to be able to plan for how their business rates will impact them.
Businesses already carry a high tax burden from business rates.
Add to this the fact that they appear, from some of the provisions detailed in the Draft Legislation, to be further penalised by restricting the likely outcome of any successful rates challenge or appeal, and all of a sudden, the red tape around our UK businesses starts to tighten.
I believe that the Government has a duty of fairness and equity to all business ratepayers, to ensure a timely publication of the Statutory Instruments that will impact on them.
As such, my esteemed colleagues and I in the surveying profession, would like to know when the regulations will be published.
Not only will this allow us to provide the information and clarity that our clients need, to plan for business rates effectively, and therefore, plan for a more financially secure future.
Yours sincerely,
Nigel Katseph
Associate and expert in business rates consultancy at leading commercial property agents, Vail Williams LLP.