Revaluation 2010
A new Revaluation of all commercial property in England, Wales and Scotland took effect on 1 April 2010 and was based on market rental valuations at April 2008, which saw huge increases in the years preceding this. Most clients will have seen substantial increases in their property taxes and this is a serious cost issue, especially in the current economic climate outside of London and the major centers.
ask-re will thoroughly investigate the Revaluation to determine its accuracy. We research transitional relief, floor areas, locality and other factors that have an impact. In most cases, reductions can be made, in which case, ask-re ensure that the maximum reduction is obtained.
ask-re provide an expert rating service covering:
- Rate Bill Analysis
- Transitional Relief
- Collecting Evidence
- Making Appeals
The object of a Revaluation is to re-align the tax base with values then current in the property market, so the impact will vary depending on property type and location. In areas and categories where there has been strong rental growth between 2003 and 2008, rateable values have increased as a result of the Revaluation. Now we are achieving making many appeals for clients.
The current economic climate means that many occupiers are exceptionally mindful of controlling costs. Property is the second biggest cost for most occupiers and it is therefore key to minimise these costs wherever possible.