28th December 2012 back to news

The postponement of the Rating Revaluation until 2017

The Scottish Government has announced that the next Rating Revaluation shall be postponed from 2015 until 2017, in line with similar announcements in England. This surprise announcement serves as a further blow to ratepayers who are already receiving non-domestic rates bills based upon the rental levels that were being achieved at the height of the property market, prior to the recession.

Without the 2015 Revaluation to reflect the dramatic changes in the property market over the past few years, rating assessments will  remain at historically high levels, completely removed from the true state of the current market.

This decision, along with the impending changes to the Vacant Rates Charges which are effective from 1 April 2013, may have huge financial implications for your business over the next 5 years. It is therefore imperative that you seek professional advice to ensure that your rates burden is minimised.

Please contact Douglas Hutcheson, or Sarah Fitzpatrick to discuss further:

Douglas Hutcheson, MRICS
16 Wemyssfield
Kirkcaldy KY1 1XN
Tel: 01592 266211
Fax: 01592 200732

Sarah Fitzpatrick, BSc MRICS
18 Newton Place
Glasgow G3 7PY
Tel: 0141 332 1194
Fax: 0141 332 5914