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Rates Revaluation 2017

The 2017 Rates Revaluation process is now well under way.  The forms hit the doorsteps early in 2015, and the Assessors were thrilled at having had double the response they have ever had before, attributing a lot of that to the marketing push that the ASSC gave to the forms.

By law, the Assessors have to arrive at rateable values for self-catering businesses.  Normally, Assessors look at the rent that businesses pay for their premises, but self-catering units, unlike shops and factories, do not have a sufficient amount of let subjects, so the Assessors have to seek a typical income and expenditure pattern for our sector.  Given that investments can come in large chunks, they ask for three years of figures so as to iron out troughs and peaks.  Assessors tell us that they are genuinely seeking middle ground, and there is no question of high achievers being penalised. Rateable Values are set per bed space to a formula agreed with ASSC.

The ASSC has had regular meetings with the Assessors during this process, who continue to be receptive to suggestions and feedback.  In January 2016, they presented an analysis document to the ASSC, representing the findings from evidence delivered in the Rates Revaluation Forms.  The approach seems fair and the figures look in line with previous years, which given the increased evidence available, is a sign that the process is on the right track.  There doesn’t seem to be anything out of line in what the Assessors are suggesting, but they sought the backing of the ASSC Committee.  This was approved.  Draft rateable values will be published in the Autumn, we will be keeping a key eye on the results!

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