Business rates: delivering more frequent revaluations

Given AAT’s repeated calls for a three-year revaluation process as a stepping stone to an annual process, we are naturally supportive of government plans to introduce a switch from a five- to a three-year cycle and believe the proposed package of measures represents a fair and balanced trade-off for ratepayers between new benefits and new requirements.

However, while there are vague statements relating to annual revaluations as “under consideration for the longer term” we strongly urge that annual revaluations should be the ultimate objective and that such a change should not be delayed indefinitely. Instead, a clear roadmap should be established by the end of this year to ensure businesses have a definitive timetable of action on this when the final government report is published this autumn.