Monday 20 February 2017

My view on the changes to business rates

As you are aware, in the coming weeks all businesses in England will start receiving rates bills based on a new valuation of their premises. This revaluation, which happens every few years and is carried out by the Valuation Office, an independent agency who are required to keep accurate and up to date valuations for businesses.

On average, business rates will fall in Cornwall by 4.9% and overall the retail industry will see a 6% reduction in rates, saving £400 million in total. In addition many rural businesses will benefit from a rate relief too. Where there is only one pub, post office or general store in a village, from April 2017 they will generally receive 100% rate relief. This was double from 50% at the last Autumn Statement.   

There are also wider reforms to business rates. As I am sure you are aware, over the next few years Cornwall Council will be devolved all the revenue of business rates, allowing local people and businesses to benefit from local economic growth.

If you have received a valuation which you think is unfair, I will be willing to support you in the appeal process. If you would like my office to help appealing, please contact me on 01726 829379 or email office@stevedouble.org.uk