Scottish Property Federation urges businesses to #KnowYourRates

15 Feb 2017

The Scottish Property Federation (SPF) is urging businesses to find out their business rates valuations ahead of anticipated changes on April 1.

 

SPF, the voice of Scotland’s real estate sector, has listened to growing concerns expressed by members and businesses ahead of the new tax year changes and is encouraging ratepayers to take action to find out what their rates are likely to be. 

 

David Melhuish, director of the SPF, is urging businesses to check draft 2017 rateable values on the Scottish Assessors’ Association portal to gauge the differences in rates that can be expected, following reports of expected increases in rates running to £10,000s for some businesses.

 

The SPF has also taken to Twitter using #KnowYourRates to encourage businesses to check new rates liabilities sooner rather than later.

 

David said:

 

“We have been hearing pretty much on a daily basis from concerned businesses about the uncertainty of how much their rates are set to change. Businesses may not see their new rates valuations appear in the post until shortly after 15 March so we are encouraging firms to check draft valuations on the Scottish Assessors Association website, where a postcode search is available.

 

“The outcome of the revaluation – the first for seven years dating back to the early stages of the 2008 recession – is very mixed for business sectors and locations.  While some ratepayers in the retail sector are seeing their valuations reduced, hospitality and licensed trade ratepayers in particular are in some instances facing significant increases.

 

“Many businesses still don’t realise how much or even whether the revaluation will increase their rates, so we are trying to get the message out and encourage people to check now before the new rates bills come into effect from April.”

 

To check your draft 2017 rateable values see the postcode search facility on the Scottish Assessors’ Association portal (www.saa.gov.uk) which also includes links to further professional advice and explains how and when concerned ratepayers may appeal their assessments.

To get involved in the conversation, head over to the SPF Twitter account @ScotPropFed and tweet using #KnowYourRates

About Scottish Property Federation

As a membership organisation the Scottish Property Federation (SPF) is the voice of Scotland’s real estate industry.  Established in 2007, SPF represents 185 organisations operating in Scotland.   We include among our members: property investors including major institutional funds, developers, landlords of commercial and residential property, and professional property consultants and advisers.  The SPF works closely with those who advise and decide on public policy in Scotland to ensure that they are aware of the consequences of their decisions for the property industry and wider economy.  

As part of the British Property Federation we also benefit from close links with the leading UK property companies and investors in the UK as well as the BPF's contacts with Westminster.

For more information, please visit http://www.scottishpropertyfederation.org.uk or follow us on Twitter @ScotPropFed.