Author: Gavin Whitney
Business rates will be changing on 1 April 2017 and this is likely to create some winners and losers: many London-based businesses will face sharp rate rises, although firms in the Midlands and the north will be largely unaffected or will see a reduction.
It has been seven years since all non-domestic properties in England and Wales were nationally revalued. The 2017 revaluation will be based upon rental levels at 1 April 2015 and will form the basis of business rates liability for the next five years. The changes include an increase in small business rates relief to £12,000.
It is important to understand the implications of this revaluation. The draft Rating List was issued on 30 September 2016 and will be the first opportunity to view your new liabilities. You may want to bear in mind your premises’ new rates liability if you have any break options, rent reviews or renewals coming up.
Gavin Whitney, Partner, Fladgate LLP (firstname.lastname@example.org)
We operate in small teams in which partners not only take the lead but also do a significant amount of the detailed work. Clients can be assured that the partners they engage and brief will remain closely involved in developing and delivering the advice as part of our close-knit, expert teams.
Fladgate has a long heritage of delivering high-quality legal advice. We have been providing practical legal solutions to businesses and private clients for over 250 years. Today we are one of the UK’s top 100 law firms, with over 80 partners and a reputation for providing solutions that work.
T: +44 (0)20 3036 7000
F: +44 (0)20 3036 7600
DX: 37971 Kingsway
The legal content provided by Fladgate LLP is for information purposes only and should not be relied on in any specific case without legal or other professional advice.
Copyright is owned by Fladgate LLP and all rights in such copyright are reserved. Material is not to be reproduced in whole or in part without prior written consent.
Fladgate LLP is a limited liability partnership, registered in England and Wales with registered number OC334334. It is authorised and regulated by the Solicitors Regulation Authority, number 484783. The term partner is used to refer to a member of Fladgate LLP. A list of members is available at the registered office shown above.