Business Rates and what you need to know about the 2017 revaluation

This year will see a revaluation of business rates. Revaluations like this happen every five years. The Scottish Assessors conduct a revaluation exercise to determine the rateable value of public and private non-domestic property. This revaluation was supposed to have taken place in 2015 but was postponed until this year.

Will you be affected by the revaluation?

Even small changes to your rateable value could affect your eligibility for or disqualify you from rate relief so it is important to find out if the rateable value of your property has gone up or down relative to the national average. Businesses in an area or in a sector doing well should expect their rateable values to increase and firms in less successful areas should expect a decrease.

What to do if you think you have been valued incorrectly?

You could have grounds to appeal if you believe that your value is incorrect. If you think this is the case, you should contact your local Assessor to discuss this. However, you may require professional assistance from your solicitor or other property professional. Formal appeals against revised valuations can only be made between 1 April 2017 and 30 September 2017. Councils can grant discretionary relief to businesses in the local area although only in exceptional circumstances. Other reliefs and assistance may be available to small businesses including Rural Relief and Enterprise Zone Relief but again only in special circumstances. You can find out more information about this help here.

You can check the current rateable value of your non-domestic property at The Scottish Assessor Association’s website.