VOA calls for business rates reforms views

By Nikkie Thatcher

- Last updated on GMT

Views sought: the VOA is asking for opinions on potential reforms to business rates (Getty/LumiNola)
Views sought: the VOA is asking for opinions on potential reforms to business rates (Getty/LumiNola)

Related tags Property Legislation Finance

The Valuation Office Agency (VOA) has urged businesses to share their views on revealing more information of business rates valuations.

This includes having access to an analysis of the evidence used to determine the rateable value of a property and an explanation of how evidence has been used.

The VOA has asked to hear from ratepayers (including occupiers or tenants of non-domestic properties who do not pay rates due to reliefs), landlords, rating agents, business representative bodies, local authorities and other stakeholders interested in the business rates system.

Those wishing to put their views forward can do so either via an online survey​ or by emailing​ or writing to the VOA.

Fair valuation

The consultation, which closes at 11.45pm on 7 June, will help ministers decide on how to proceed and aims to ensure any decisions made are informed by the input and views of a broad range of people, according to the VOA.

Chief valuer Alan Colston said: “We want to hear what businesses need to judge if their valuation is fair.

“What might be helpful to you? What do you consider sensitive data? This is a great opportunity to contribute. We want ratepayers and others to have their say.”

The VOA said there were no changes to business rates that will impact ratepayers now and it will tell ratepayers about any changes and when they will be affected.

Frequent revaluations

The proposed changes follow the Government’s review of the business rates system to support more frequent revaluations.

In March, the Government announced the new non-domestic rating bill, aimed at “modernising” the business rates system​.

The bill would mean valuations would take place every three years instead of every five, which the Government claimed would mean those with falling values would see their bills drop sooner.

However, last month (April), property expert Colliers warned a reform of the system would include a 7.1% rise in rateable values​.

Related topics Property law

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