Supreme Court ruling has put a spoke in the wheel of business rates being charged on property undergoing substantial redevelopment

November 2, 2017

 

Did you know that recently, the Supreme Court unanimously allowed a company called "S J & J Monk’s" appeal against the "Valuation Office Agency" to be upheld. Big news when one considers that the ruling has significant implications for the ratings of properties in the UK. The case was about a 3 storey office building in which S J & J Monk owned the first floor. Basically the property was vacant and substantial construction work had been undertaken on it with the premises stripped to a mere shell. S J & J Monk did not want to pay business rates on the property whilst it was going through the redevelopment, quite right too, and so appealed to have the valuation set at £1. Typically, the Valuation Office Agency rejected their appeal to alter the description of the property on the rating list. Later the Valuation Tribunal upheld his decision. However, the Upper Tribunal allowed the companies appeal because the property had been stripped out beyond reasonable repair. To get the full story read the costar.co.uk article here http://www.costar.co.uk/en/assets/news/2017/March/Test-case-Supreme-Court-ruling-on-refurbished-property-rating-hailed-as-victory-for-common-sense/

 

Contact us on Telephone Number: 01225 667 747 or email me at steve.adams@businessrateadvisors.co.uk
Website:  www.businessratehelp.co.uk

 

 

 

 

 

 

 

 

 

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