How do you rate?

Businesses will be receiving their new rates bills between now and 1st April. From this date, businesses can appeal against their rates if they believe them to be incorrect.*

This follows the recent quinquennial (five yearly) review of business rate assessments. This assessment is known as a rateable value. It is important that businesses ensure they have been assessed correctly because their new assessments will form the basis of their new rates bills up until 1st April 2010.

Businesses can appeal by themselves, but a skilled professional advisor is crucial to ensure maximum chance of success. Professional rating advisers who are RICS members are governed by a strict code of practice and are experts in both valuation and the rating system. Over 1.7 million new rates bills are being issued for 1st April.

Business can make a further appeal in the following circumstances:

- If the Valuation Officer or Assessor has changed the rateable value.

- If a material change has occurred to the property, or its locality, which would affect its value, including:

- A change to the premises.

- A change in the area ñ such as disturbance due to nearby road works or other building operations.

- New developments, which affect the propertyís value.

Businesses should beware of opportunist, unqualified ëcowboyí advisers or consultants who make claims that they can definitely reduce business rates. It is important to ensure that the professional you hire is in fact who they say they are. The validity of an RICS member can be checked by calling RICS Contact Centre on 0870 333 1600 or by emailing contactrics@rics.org contactrics@rics.org.

RICS have set up a helpline offering business rates advice. For a free half hour consultation with a local RICS firm call the RICS Business Rates helpline on 0870 333 1600.