2010 Rating Valuation

New rateable values for commercial property come in to effect on 1 April 2010 in England, Wales and Scotland as part of an established 5 yearly cycle which effectively allows the Government to adjust rateable values in line with changes in the commercial markets. (Ireland has a different system.)

The assessments will be broadly based on key rental values as at 1 April 2008 and our research predicts significant increases in rateable values in many property sectors and geographical hotspots, potentially resulting in a significant impact on rate liabilities from 2010 onwards across the UK.

However assessments can be challenged and overpaid rates can be claimed back.

Accurates has identfied and reclaimed £millions for clients since the previous rating assessments in 2005.

Business Rates Deferral Scheme 2009/10

On 31 March 2009 the Government announced that it will legislate in July 2009 to enable businesses to defer payment of 60% of the increase in their 2009/10 business rate bills until 2010/11 and 2011/12. This applies to England, Wales and Scotland.

Colliers International's highly experienced Rating team provides advice to private and public sector clients seeking to minimise their rating liabilities. The team advises on holdings of traditional or specialist property of any size and in any location.

Further information is available by contacting Colliers International's Rating team.

As yet there has been no announcement for Northern Ireland.