1 August 2007
The Valuation Office Agency (VOA) has been providing help and advice to businesses concerned about the circumstances in which flood damage would lead to an adjustment in their business rate assessment - the rateable value.
Ratepayers are entitled to request an alteration of their rateable value - known as making a proposal - where circumstances affecting their business property change. For instance, where a property is rendered permanently unusable because of the severity of flood damage, ratepayers can apply to have it deleted from the rating list.
Reductions in rateable value may also be valid, for example, where flooding has caused severe damage that is not economic to repair, or where physical changes to a property’s locality have occurred, which affect its rental value - this might be where a bridge has washed away causing accessibility problems for deliveries or customers.
Circumstances will vary and flooding does not mean an automatic adjustment to rateable values. For instance they will not be affected by repair work which is regarded as economic to undertake.
Requests for reductions reflecting uneconomical repairs or changes to a property’s locality have to reflect the actual situation on the day they are made, so people who feel their business is liable for an adjustment should act quickly and contact their local Valuation Office as soon as possible where staff will do all they can to advise. A number has been set up for England – 0845 602 1507 and Wales – 0845 600 1748 and is available from Monday to Friday, 9:00am to 5:00pm. Full details about making a proposal can be found on the VOA website at www.voa.gov.uk/business_rates/appeals.htm
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Notes for editors:
- The Valuation Office Agency (VOA) is an Executive Agency of HM Revenue and Customs. Its main responsibilities are assessing rateable values for the purpose of non-domestic rating (business rates) and valuing domestic properties for Council Tax purposes in England and Wales.
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