Rating Valuations now released

Draft Rateable Values (RV) for commercial properties across Scotland have now been released and will come into effect from April 2017.

You should check yours online at www.saa.gov.uk and see what is being proposed for your property. Check whether all the information is correct - this is going to form the basis for how much you pay for Business Rates for the next 5 years so take your time to make sure its right.

The RV is based upon the 'tone' rental value of your property two years ago, and you pay a percentage of the RV based on the Uniform Business Rate. Depending on your circumstances you may qualify for discounts, however these aren't automatically applied so you will need to apply for them.

There will be winners - with some Rateable Values reducing - but inevitably many will see their RV's rise and now is the time to consider lodging an appeal to challenge this. Even for those whose RV has reduced, further savings may still be secured due to errors in the calculations. 

As always for your best chances of success, take professional advice.

If you would like to discuss how Smart & Co can help you, please contact us.