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Time running out to claim retro Business Rates rebate?
Posted 2 February 2015 | 
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The government has recently announced a proposal which, if carried through Parliament, will save the Exchequer millions of pounds in business rebate rebates...but this is bad news for businesses who are being overcharged.
It is proposed that if the Valuation Office (who set the business rates valuations) receive a business rates appeal on or after 1 April 2015 then the earliest they will back date any changes is that date. The billing authority (i.e. the local council) will only backdate any business rates rebate to that same date. Businesses will continue to have full legal rights to appeal their rating assessment.
The Valuation Office advised on 22nd January 2015 that "Legislation to give effect to the changes has yet to be enacted so specific detail of how the revisions will operate is not yet known". But the view is that the government wishes to rush this legislation through before the election.
Reductions negotiated as a result of appeals submitted by 31st March 2015 will continue to be backdated to 1st April 2010. So you can see the importance of getting your appeal in quickly otherwise your company could lose out on significant rebates going back five years.
So don't let the Exchequer keep hold of money that should be your company's! Act now by giving BSA a call (0845 555 3344) or email us and our business rates expert will then get things moving quickly. There is no upfront fee and only on successful appeal, BSA will take 35% of the total retrospective rebate received from your local council. The clock is ticking...
by L Franklin | 2 February 2015
