Valuation date set for non-domestic rates

Posted by LindaStenner on September 2, 2020

Valuation date set for non-domestic rates

September 02, 2020 at 2:20 PM

The Valuation date for the next Rating List in England has been set for April 1, 2021. The date is set in The Rating Lists (Valuation Date) (England) Order 2020 (SI 2020/832) which comes into force at the end of August.

The move follows an announcement earlier this year that to help reduce uncertainty for firms affected by the impacts of coronavirus a revaluation of business rates will no longer take place in 2021.

The next revaluation of rates will take place in 2023 and  April 1, 2021 is specified as the day by reference to which the rateable values of non-domestic hereditaments are to be determined for the purposes of local and central non-domestic rating lists when they are next compiled for England.

This April 1, 2021 Valuation date has also been confirmed for Wales.

“Revaluations are done to maintain fairness in the system and reflect changes in the property market and the delay of the Valuation Date will mean the impact of coronavirus can be taken into account,” explained Kathryn Williams of Davis Meade Property Consultants.

For more information or advice on business rates relief contact Kathryn Williams at Davis Meade Property Consultants on 07971 583638 or email kathrynwilliams@dmpcuk.com

 

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