REVALUATION AND OVERHAUL OF BUSINESS RATES SYSTEM

The biggest change in the Business Rates System since 1990 is about to take place. With effect from 1 April 2017 every non-domestic property in Northamptonshire will receive a new Rateable Value on which Business Rates will be assessed for the following 5 years. There are some notable increases in Rateable Value. For example the…

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Rates Relief on Obsolete Building

It has taken two appeals and 5 years of negotiations by Underwoods. Eventually the Valuation Office Agency conceded that a disused flour mill in Peterborough was obsolete and the Rateable Value has been reduced to zero with effect from June 2010 yielding a rates refund in excess of £150,000. Rating Law dictates that buildings are…

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