1. Business Rates Revaluation
Paul Deriaz MRICS MRTPI
Deriaz Slater LLP

2. Business Rates Recap - How It Works
The amount of business rates payable is calculated by:
Rateable value * Multiplier
= Gross Rates Payable
Less Deductions for Reliefs, Exemptions, Discounts
+/- Transitional Relief
= Actual Rates Payable

3. Business Rates Revaluation - How It Works
This is done to ensure that rates stay broadly in line with a properties’ annual rental value.
Revenue neutral across the country achieved by adjusting the multipliers (poundage rates)

4. National Impact of Revaluation

5. National Impact of Revaluation
Small business multiplier p
Standard multiplier p
To ensure business rate receipts remain constant in real terms

6. Wycombe District Breakdown of Commercial Properties

7. Marlow in Focus

8. Results by Key Geographies

9. Transitional Relief
Large changes in rateable values can translate into large sudden increases or decreases in business rate bills.
To protect businesses from sharp effects of this kind, transitional relief is provided.
When this happens, although transitional relief softens the effects of revaluation on ‘losers’, it also means that ‘winners’ (i.e. businesses whose rate bills have fallen) do not receive their full ‘win’ for a few years following the revaluation.

10. Transitional Relief

11. Business Rates Other Key Changes
Thresholds for small business rate relief are being extended in England. -
- 100% SBRR for properties with RV’s of £12,000 or less.
- Tapered relief will be available up to £15,000 (previously £12,000).
Rural rate relief increases to 100%.
The Government is introducing, for England only, a new system for appealing against rateable values, called Check, Challenge, Appeal. This system is going live on 1 April 2017.

12. Check, Challenge & Appeal
Existing rates liability must be paid for the duration of any appeal.
Check for any discrepancies
Challenge
Details of challenge
Propose alternative rateable value with evidence/analysis
Appeal
VOA allowed “tolerance"

13. Questions / Discussions
Paul Deriaz MRICS MRTPI
Deriaz Slater LLP