Barry Newbury-Neale and Rachel Payne have joined our business rates as demand increases following the introduction of the new Rating List which will result in major changes for non-domestic property owners and occupiers.
Barry has worked in the industry since 1986 and has extensive experience in office and retail rating valuations in Canary Wharf, Docklands, the City of London, and the West End, as well as the valuation of industrial properties in Essex and Hertfordshire and pubs across Essex and East London. He also has substantial experience preparing and presenting cases at valuation tribunals and in carrying out valuations for Inheritance Tax, Capital Gains Tax and compulsory purchase and compensation requirements.
Rachel has worked on local taxation for more than 20 years, spending most of her career in the public sector before moving over to the private sector in 2021. She has extensive experience in the valuation of office, retail and industrial properties in London and the home counties and has also completed a number of hotel valuations in London.
Our Head of Business Rates Consultancy, David Wagstaffe, has welcomed the expansion of the team. He said: “It is fantastic to welcome Barry and Rachel to the team at such a pivotal time in the industry. They both have extensive experience in valuations and are perfectly placed to advise clients on new and upcoming changes.”
David also warns non-domestic property owners and occupiers about a Bill going through Parliament that will result in even more new legislation. He said: “Following the introduction of the new Rating List, all ratepayers should be aware that the Rateable Values and therefore their rates payments have changed. We recommend that all ratepayers review these carefully, and if in any doubt, seek expert advice on whether payments can be mitigated in any way. This is not just retail premises, but any ratepayer occupying a non-domestic property.
“However, there is another key element approaching that all ratepayers, and potential ratepayers, need to understand. It is very likely that all ratepayers will soon have a legal duty to inform the Government of any changes to their property, any new leasehold information, and provide annual confirmation that the records the Valuation Office holds are correct.
“The Non-Domestic Rating Bill introducing this legislation is currently in parliament and will almost certainly be in place by April 2026, but may progress earlier. Although we’re waiting for the exact specifics of the legislation, it seems that the notifiable changes to properties could be as minor as adding a mezzanine floor or installing air conditioning.
“There are likely to be fines for non-compliance, and we anticipate that there will be powers put in place to backdate these charges. It is important that anyone this applies to seeks expert advice at this early stage to ensure the Government is given the information they require, fully in accordance with the new legislation to avoid future penalties.”
Our expanding rating department is well-placed to assist occupiers with this. Please feel free to reach out to our team or click here for more information.
