Business Rates Newsletter – September 2020

Rating Revaluation 2022 Postponed!

The First Minister announced that the next Revaluation due in 2022 has been cancelled. There has been no explanation and this contradicts the recommendations made in the Barclay Review of the Scottish Rating system – which was instigated by the Scottish Government.

The below is an extract from the First Ministers statement in parliament on 1 September 2020;

“The next non‑domestic rates revaluation in Scotland will take effect in 2023, the same year as in England and Wales, but will be based on rental values as at 1 April 2022, and not 1 April 2020. This will mean that properties’ rateable values will better reflect true market conditions, taking into account any COVID-19 effects, and delivers our commitment to move to revaluations with a one‑year tone date two years ahead of schedule.”

For more information please do not hesitate to contact a member of our Rating Department.

Business Rates Newsletter – September 2020