With the publication of new rateable values for pubs, the British Beer & Pub Association (BBPA) is again reminding licensees to check their new valuations. The BBPA has produced an online guide to help pubs navigate the process.
The BBPA is stressing the need for licensees to make sure they have made the necessary financial preparations for next year. Businesses will be able to notify the Valuation Office Agency (VOA) of any obvious errors – and officially appeal to the VOA if there are any serious mistakes, under the Government’s ‘Check, Challenge and Appeal’ process, from April next year.
This is the first time the valuations have been amended since 1st April 2010. The VOA, with the help of five trade bodies, including the BBPA, has developed the 2017 Approved Guide to the process, which is due to be published, along with the new valuations, today.
BBPA Chief Executive Brigid Simmonds comments:
“Whilst we won’t know the final shape of bills until the Government decides on the multiplier, which is effectively the tax rate, it is still vital for licensees to be aware of this major change. There will certainly be premises that will see an increase in their rateable value, particularly where the business has thrived over the past eight years, and we will be looking at ways to mitigate any sharp rise in bills for these premises. We will continue working for relief for pubs – industry pressure has already seen reforms that will mean pubs with a rateable value of £12,000 pay no business rates at all.”