Bar and restaurant owners in Scotland have until 30 September to appeal their new rateable values, or face having to wait another five years for new rates to be set, warns the Association of Licensed Multiple Retailers (ALMR).
The new business rates have been based on valuations from 2015. The Scottish government is said to be considering acting upon recommendations from the recently published Barclay Review of business rates and changing the revaluations cycle from five to three years. However, this is unlikely to be implemented next revaluation in 2022, says the ALMR.
Kate Nicholls, CEO of the ALMR, said: ‘We welcome the fact that the Scottish government is about to embark upon a review of business rates, setting an example that ought to be quickly mirrored in England and Wales. However, before that takes place, ratepayers in Scotland have little time to avoid being locked in to overly burdensome rates due to overvaluation.
‘With so many rising costs burdening operators, it is crucial that they seriously consider an appeal if they feel that they have any case regarding over-valuation of their venue. Failure to do so could result in unfairly high costs for the next five years, a period during which many other cost factors may come into play.’