Update from Altus Edwin Hill: Business rate changes fast approaching.

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Posted in:berg Advisory, Business Finance, Corporate and Commercial|March 30, 2015 | Join the mailing list

An important change to the Business Rates system comes into effect on 1 April 2015, which potentially limits the amount of any rebates awarded when appealing the rates.

If an appeal is received on or before 31 March 2015 the changes to the business rate assessment can be backdated to the start of the current business rate cycle on 1 April 2010. However for appeals raised on or after 1 April 2015 the earliest any business rate
changes can be back dated to is that date.   

Therefore a successful appeal raised before the 1 April 2015 would potentially produce savings over a 7 year period until the end of the current business rate cycle on 1 April 2017, whilst appeals raised after the cut off date will be limited to 2 years as
they can only be backdated to 1 April 2015. This represents a loss of over 70% of your overpaid business rates savings.

If you have not appealed your Rateable Value then it’s not too late. Our business rates partner Altus Edwin Hill Chartered Surveyors can still advise on the opportunities available and what action can be taken in advance of the cut off date.

 
Please
click here for more information
about Altus Edwin Hill and the impending deadline, or alternatively request an immediate call back by

clicking here

(The information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Berg or any of its partners or employees. Professional legal advice
should be obtained before taking, or refraining from taking, any action as a result of this article.)

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