The two core principles that inform rates bills in Scotland are the property’s rateable value and the poundage rate, set by the Scottish Government. Gerald Eve have the specialist knowledge to advise businesses across Scotland on all aspects of property tax.
Based in Gerald Eve’s Glasgow office, our Scottish business rates team have over two decades of experience of the country’s commercial property market and unique business rates system. Their knowledge of different property sectors remains among the most advanced in our field, and enable us to maintain our position as leader in business rates for Scotland throughout the 2017 Business Rates Revaluation.
Through the Scottish Business Rates system, responsibility for rates valuation and payment is distributed thus: local rates assessors calculate the rateable value (RV) of commercial properties, while local councils are responsible for payment collection and administering any reliefs to qualifying businesses.
The 2016/17 national poundage rate for businesses with an RV of under £35,000 is 48.4p. For properties valued at more than £35,000 rates will be calculated using a poundage rate of 51p. Once the new rateable value is set on April 1st, ratepayers in Scotland have six month to make an appeal to their local assessor.
A new owner or another person acquiring an interest in the property also has the right to appeal within six months of taking over a property.
If an appeal cannot be resolved by negotiation between the ratepayer and the assessor, it will be heard by a Valuation Appeal Committee. The ratepayer must provide details of their appeal at least 35 days in before the hearing commences. Complex appeals may be heard by the Lands Tribunal of Scotland (which forms part of the Scottish court system).
How Gerald Eve can help
In this complicated process, Gerald Eve’s support and guidance can make a huge difference to your current rates bills, past payment audits and future liabilities budgets. We have experience helping companies of all sizes, across all industry sectors to manage and appeal their business rates costs.
Since the 2010 revaluation, Gerald Eve have helped Scottish businesses save millions of pounds through business rates appeals and we’ve advised thousands of properties. From hotels to zoos, our property tax specialists have advised clients across a huge range of sectors; the combined rateable value of our current client portfolio is over £9.3bn.
Gerald Eve are ready to advise on business rates from Edinburgh to Elgin. Our services include one of business rates recovery cases and ongoing business rates payments outsourcing, we will work to minimise your liability over the next five years.
For information on how Gerald Eve can help your business, call us today on 0845 1288 952 or send an email to one of property tax saving experts at [email protected]