BUSINESS RATE DEMAND CHANGES

As from today, 20th February 2017 the Government has introduced various amendments to the rating system regarding the issuing of business rate demand notices, as opinions gathered from ratepayers during the 2015 Business Rates Review was that the existing multi-year billing system was unclear. The changes are introduced by the Non-Domestic Rating (Demand Notices)(Amendment)(England) Regulations 2017.  This is in addition to other changes which are effective from April 2017 when the Government intends to revise existing property ratings and uprate the business rate relief thresholds in line with the general movement of values resulting from the 2017 revaluation.

From today, billing authorities must serve individual demand notices for each financial year instead of the being able to serve a single demand notice which covered numerous financial years as they have done previously.

In addition, a requirement to issue online explanatory notes has also been introduced. Previously, paper copies of these notes were simply sent along with the demand notices. The information that has to be contained within the explanatory notes has also been modified to reflect the 2017-18 billing year changes to business rates.

It is hoped that whilst there will be no financial impact on businesses these modifications will help to improve and simplify the billing process.

If you would like to speak to someone regarding this article, please ring Lucie Couchman on 01746 769748 or email Lucie luciec@terry-jones.co.uk.  Alternatively you can speak to any member of our Commercial Property Department.

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