Urgent Business Rates Update
A recent decision by the Aberdeen City Valuation Appeal Committee has resulted in Rateable Value reductions of 16.5% being granted to a number of office occupiers in Aberdeen City Centre, West End and Dyce. The Committee held that the down-turn in the Oil & Gas sector has impacted rental values in the City and that the limited rental evidence available indicated a drop which, in their opinion, was sufficient to constitute a “Material Change of Circumstance”.
Whilst it is almost certain that the Grampian Assessor will appeal this decision to the Lands Valuation Appeal Court and there is a prospect that the outcome may be reversed as a result of this appeal, it would now be prudent for ALL OFFICE OCCUPIERS to lodge “Material Change” appeals prior to the 31st March 2017. Business Rates Revaluation proposals must be subject to a separate appeal.
For further information and advice, please contact:
Head of Business Rates and Taxation