Many businesses have been sent requests for Business Rates information over recent months by the Valuation Office Agency (VOA) and now updated bills are going out.
Business Rates are revalued every three years. Starting now and into 2023, all bills are liable to change.
Business rates and Rateable Values are established and set by the Westminster Government via the VOA but are collected by Malvern Hills District Council (MHDC) on behalf of the VOA.
MHDC has no input into the valuations or Rateable Values set, other than collecting data at the VOA's demand. All money collected goes roughly: 50% to Westminster, 40% to Worcestershire County Council, and only 9% to MHDC and 1% to the Fire Service.
Up to now, around 80% of the MHDC area's businesses have been exempt from Business Rates, due to their Rateable Values being under £12,000. Many of the remaining 20% had complete exemption from Business Rates during COVID.
New, higher Rateable Values and bills may come as an unwelcome surprise at a time of higher costs in many other areas. MHDC is aware of the problems revaluations may cause, but cannot change the VOA's calculations or decisions, despite the bills coming out under MHDC's name.
There is a formal appeal process for businesses via the VOA that businesses can use. More information about the appeal process can be found on the Government website.