Market Insight

What’s the next step for 2017 Revaluation?

April 13, 2016

It came as some disappointment to us when the Chancellor, in his recent Budget, failed to provide more clarity about the ‘Check, Challenge & Appeal’ process for 2017 Revaluation.

There is still so much that remains unknown and hasn’t been communicated.

This lack of clarity for businesses, in particular small businesses, really doesn’t help when it comes to budgeting their occupation costs to for the future. It only serves to create uncertainty as no one quite knows what to expect from the new Revaluation in April 2017.

What we do know, however, is that businesses will have already received a reminder to register online with the Valuation Office Agency (VOA) website. By doing so, you will be notified once your proposed new 2017 rateable value- (RV) is published this Autumn.

If you haven’t done so already, get ahead of the queue and do it now.

What action does your business need to take next?

Apart from registering online, the next step is to seek professional representation for the 2017 revaluation.

In the next few months, rating advisors across the land will be contacting as many businesses as they can in order to gain instructions for 2017.

So heads up, they’re coming your way and if you are old enough to remember the classic Spaghetti Western; ‘The Good, the Bad and the Ugly!’ you can bet your bottom dollar you will be contacted by a mixture of the above before the year’s out, so here are a few tips on how to avoid old ‘Angel Eyes’ and his ‘cowboys’!

Firstly, only appoint rating surveyors who are professionally regulated by the RICS (Royal Institution of Chartered Surveyors) or the IRRV (Institute of Revenues, Rating and Valuation.)

They have a high standard of professional expertise that’s guaranteed and also a mandatory complaints handling procedure as extra protection in case you are dissatisfied by the service you receive.

Secondly, always read the small print and never believe ‘worked examples’ of savings hand written on the contract. It’s a con.

Thirdly, be clear on how the agent’s fees are calculated; if in doubt, ask and don’t forget to check out the basic stuff like how long is the contract, and what are their abortive fees?

Proper rating advisors are always happy to explain all their fees, the processes and answer all questions, until you are completely satisfied. That’s their job and they won’t shy away.

Finally, there’s no such thing as a free lunch.

If it all sounds too good to be true, it probably is! So go online and look the advisers up. You’ll soon discover if they have a bad name or are the type of gun slingers who shoot first and ask questions later!

Feeling bamboozled?

If you’re feeling a bit dazed and confused about it all, worry not! We are here to help.

Why not contact us for a free ‘no obligation’ discussion on your current rating situation?

Alternatively, we are happy to come to your premises and run through all of the above face to face. We have experts who have been rating practitioners for over thirty years, so you are in safe hands.

In the meantime, for more information about the key dates for Reval 2017 click here.