Latest news from Bira

06 Oct 2020

Accurate information is 'really important' for rates revaluation in 2023

Bira members renting their property are informed of the importance of providing accurate information ahead of the revaluation of business rates in 2023.

The Government is now sending letters out to request rental information, which will be used by the Valuation Office Agency to maintain up-to-date records reflecting how the value of property has changed.

The information provided by all businesses in England and Wales will set the rateable values used by local authorities to calculate your business rates. Revaluations take place every few years and reflect changes in the market.

The revaluations will take into account the changes which have occurred due to the outbreak of Covid-19. Businesses are urged to report these changes on the rent and lease detail form.

Bira's CEO Andrew Goodacre said: "It is really important to provide accurate and up-to-date information as the valuations will be used to set the rates as from 2023."

Following a successful campaign from Bira and the Altus Group, the Government postponed the 2021 rates revaluation.

Read the full story about the 2023 revaluation here



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