Rating List comes into effect on 1 April 2010

All clients with UK business premises will be affected by the updating of the Rating List which comes into effect on 1 April 2010, reflecting the relative changes in rental values across the country as at April 2008. Business rates represent one of the largest costs for UK businesses and the new List is likely to result in an increased rates bill for many clients. Companies can reduce their liability by challenging the rateable values, but time is running out for challenges to the 2005 List, which must be made by 31 March 2010.

In the circumstances, you only have around three weeks to lodge appeals in respect of the 2005 Rating List. Such appeals may be appropriate if the rateable value of a property is higher than it should be, either because of the nature of the property or because works have been carried out to the property that have decreased the value.

If you consider that an appeal is appropriate you should contact your usual rating surveyors for procedural and valuation advice straightaway. Herbert Smith LLP can recommend suitable rating surveyors if you require.

Our highly experienced business rates practice is headed up by Martin Dawbney and a brochure setting out the team's capabilities and our contact details, can be found here.

The content of this article does not constitute legal advice and should not be relied on as such. Specific advice should be sought about your specific circumstances.

Herbert Smith LLP, Gleiss Lutz and Stibbe are three independent firms which have a formal alliance.

© Herbert Smith LLP 2010