Be aware of amendments to business rates

The Chancellors' Autumn Statement included an important amendment to business rates that business owners must be aware of including the following

• The deadline for appeals to be lodged based on the 2010 Valuations List is 31 March 2015
• After that date, the rebate and interest (net of tax) that can be gained after a successful appeal will be capped
• For valuation appeals made on or after 1 April 2015, any resulting change to business rates from a successful appeal will only be backdated to 1 April 2015.

Chris Johnson, Managing Partner at Smith and Sons said: "The implication of this is pretty significant – these new measure will affect the ratepayers' rights. In the future, successful

Appeals lodged before 31st March will be back-dated to the start of the 2010 Valuation List – 1 April 2010 - or to the actual occupation date if later."