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News - 23 January 2015

Prepare for 2017 rates revaluation

The Valuation Office Agency (VOA) are now distributing forms to business ratepayers, to gather information in preparation for the 2017 Revaluation.

The Revaluation involves an assessment of the rateable values of all business premises in England and Wales. Ratepayers will be required to submit details about their premises and business.

The details will be used to update the database of rateable values, which will help local authorities recalculate business rates. The new business rates will then come into force from 1st April 2017.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
 “If you receive one of these forms, please complete and return it quickly and accurately as failure to do so could mean you pay the wrong amount in business rates. It could also mean a fine of £100 if not returned within 56 days. It is worth remembering that even if you work from home you may still have to pay business rates as well as council tax. If you are unsure contact your local assessor.”

If you need any help and advice on Budgets, Cash Flow Forecasts and Management Accounts, contact Lavinia Newman, Stuart Coleman or Liz Kennett NOW to discuss how ABDS can help in all your financial planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

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