Business rate revaluation – is your equestr

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Business rate revaluation is your equestrian property covered?

June 2010

equestrian property

Equestrian property owners must take note of new rateable values which have come into effect from the 1 April this year, which could affect both you and your business.

The revaluation affects England, Scotland and Wales and occurs once every five years, with the assessments for 2010 based upon rental values from 1st April 2008. Caution must be exercised by business owners, home owners and farmers when checking their rates as they need to know what types of properties are included and those that are exempt.

March marked the deadline for revaluation notices being received by the Valuation Office Agency (VOA) with appeals already being accepted. The new rates will be fixed until the next revaluation in 2015, so it is essential that the correct value is being applied so that you are not overpaying.

Agricultural property currently receives exemptions from business rates; however horses and ponies are not classed as livestock, so stables and ancillary buildings are not agricultural buildings and are therefore rateable.
There are certain exceptions, for instance if stables lie within the curtilage of the dwelling, and could only be sold with the house; the buildings would be covered by council tax and not business rates. 

Holly Richardson comments: “It is imperative that people with equestrian facilities check the accuracy of the details which are being used to calculate their rates.

The VOA only offers one opportunity to lodge an appeal, so it is important to put forward a well presented case based on evidence of the local market and comparable properties. Each case is different, with the VOA making its decisions upon the individual circumstances”.

If you have any questions regarding your equestrian facilities and their rateable value, please call Holly Richardson on 01858 411225 email holly.richardson@fishergerman.co.uk

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