4/1/21 – Update on possible Rateable Value reductions resulting from the Pandemic

You may have seen recent press reports that the Valuation Office Agency (VOA) has agreed reductions in the rateable values for office properties. We can confirm that there are discussions ongoing between the VOA and representatives of the Rating Surveyors Association with the intention of agreeing a framework for settling COVID related appeals.

We are pleased that discussions are progressing and we are hopeful that, even considering the complex legal and valuation issues the Pandemic raises, agreement will be reached early in 2021. We anticipate that the level of reduction will vary between different property types and possibly from location to location. At the moment there have been no reductions agreed for any property type so those press reports are premature.

In order to be granted the reduced rateable value we understand that it will be necessary to submit a ‘Check’ to the VOA via their online CCA system. To be in the best position to benefit from the reduction it is important that ratepayers have registered on the VOA website and claimed the properties that they occupy. Aitchison Raffety can help you through the process and will be contacting existing clients to explain what is required.

Should you have any questions then please contact our Business Rates Team on 01727 732222.