In 1988 The Local Government Finance Act introduced a new legal and valuation framework which effectively substantially changed the previous system for assessing business rates throughout the country.

The first revaluation under this Act took place on 1st April 1990 and subsequent revaluations are on a five year cycle, the latest being from 1st April 2005 and reflecting rental values as at April 2003.

The assessment placed upon premises is by the Valuation Office. However, this is not always a correct interpretation of the value and, within certain time limits, the figures are negotiable.

If a dispute cannot be agreed by negotiation the case can be heard at the Valuation Tribunal. With rates being such a high outgoing, they should be treated with the same importance as rent.

It is essential to be sure that you are paying as little as possible. We can advise on this and the various implications such as phasing provisions and carry out negotiations on your behalf to minimise your liability.

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