Business Rates Newsletter – May 2020
The effect of the coronavirus has been dramatic on home and business life . The UK and Scottish governments have announced various measures since the middle of March
We have tried to cover the governments legislative response in this extended Business Rates Newsletter and outlined the related financial assistance.
The various grants and reliefs do not provide assistance to business in the industrial , office or warehouse sectors and we have outlined the option of appealing current assessments on a ‘material change’ basis.
The next Revaluation of all commercial property in Scotland is scheduled for 2022. In our opinion the 2022 Revaluation should proceed in Scotland. We believe the tone date should be amended to April next year which would enable the effect of the coronavirus to be reflected in values in 2022. The value evidence of this effect will be more apparent in actual transactions around April 2021 which will not be available at this time.
Due to current circumstances this is an extended edition and complex issues have been covered . If you need further advise please do not hesitate to contact a member of our Rating Department .