Banbury area businesses warned against possible rates 'scam' when revaluations take place
A senior chartered surveyor in the Cherwell district says rates revaluations will offer a further chance for ‘scammers’ to approach local businesses.
In his new column, Outlook, Ian Sloan FRICS said the valuation office is currently working hard in preparing a new valuation list which will provide a new rateable value for every business property in England.
"We do not expect this to be published however until late December 2022 and it will not be possible for businesses to appeal their new rateable value until after April 1, 2023. Financially it costs local council nothing as the total cost, including their costs for administrating the scheme, are reimbursed by central government.
"We expect many companies to re-emerge and promote their services to businesses across the UK in the coming months, informing owners that they can obtain discounts on their business rates,” said Mr Sloan.
“A discount may be possible but we believe, as in the past, 98 per cent of valuations will be correct.”
Mr Sloan said businesses should approach their retained agents or himself for advice if they are approached in this way.
"We still know of businesses that are paying an annual fee to rating advisers who requested they sign contracts covering not only the 2017 revaluation but
also ‘the next revaluation’. Businesses should be warned,” he said.
Mr Sloan’s company of chartered surveyors, Bankier Sloan, is based in Shenington. For Bankier Sloan’s advice on the matter see https://www.centre-p.co.uk/Small_Business_Rates_Relief.pdf