Valuation of fibre optic network confirmed

The decision of the Upper Tribunal (Lands Chamber) in Interoute Vtesse Ltd (formerly Vtesse Networks Ltd) v Gidman (VO) concerns the valuation for rating of an unusual type of property, an electronic communications network, but sets out some important general principles regarding valuation methodology and the application of European Union law to business rates. ...Read More

Proposed 2021 rating revaluation deferred

The Communities Secretary, Rt Hon Robert Jenrick MP, has announced that the rating revaluation that was proposed to come into force on 1 April 2021, has been postponed. The legislation to bring forward the date of the revaluation from 2022 to 2021 is to be withdrawn. ...Read More

Value of tenant’s alterations to offices

The Upper Tribunal (Lands Chamber) has considered the valuation of tenant’s alterations in its decision in The Appeal of Jackson (VO). In this case, it found that the installation of an internal staircase linking two floors in a multi-let office building was “value-neutral”, that is to say it neither increased nor decreased the value of the whole property. But the Tribunal warned that this is an area of valuation where each case has to be considered on its own merits. ...Read More

Further extension to Covid-19 business rates reliefs

The Government has announced a further extension to its scheme of Covid-19 business rates reliefs, first announced in the Budget on 11 March, and successively extended since then as the impact of the virus outbreak has widened. The latest extension includes in the 100% rates holiday further properties that are required to close following the Prime Minister’s statement on 23 March, and includes estate agencies, letting agencies and bingo halls. ...Read More

New Covid-19 business rates reliefs

Following the announcement of the enhanced retail discount last week, and in the light of the increasing grip that the coronavirus has taken on our economy, the government has announced additional business rates reliefs. Uncertainty still remains regarding the application of “state aid” limits to these reliefs. ...Read More