rating list
📖 What is rating list? Meaning and definition
The rating list is a crucial document in the UK's non-domestic rates system. It contains information about individual properties, known as 'hereditaments', including their description (e.g., 'shop and premises') and their assigned 'rateable value' (RV). This rateable value is a key figure used to calculate the business rates payable on a property.
Properties are entered into the rating list, and these entries can be subject to challenges or 'proposals for alteration'. For example, a property owner or tenant might submit a proposal if they believe their property's rateable value is incorrect. Such proposals can lead to a reduction in the RV, as seen in cases where a property's value was reduced from £12,000 to £11,000.
The rating list is compiled at specific intervals, such as the '2010 Rating List' mentioned in the cases. The values within the list are often based on an 'antecedent valuation date' (AVD), which is a specific date in the past used to assess property values for the entire list. Appeals against entries in the rating list can be heard by tribunals, such as the Upper Tribunal (Lands Chamber), which has jurisdiction over disputes concerning rateable values and alterations to the list.
📋 Requirements
- A property must be a 'hereditament' to be included in the rating list.
- The rating list includes a 'rateable value' (RV) for each property.
- The list specifies a 'description' for each property, such as 'shop and premises'.
- Entries in the rating list are subject to an 'antecedent valuation date' (AVD).
- Proposals for alteration must be submitted against an assessment in the rating list.
📝 Procedure
- A property is entered into the rating list with a rateable value and description.
- A proposal for alteration of the rating list can be submitted against an assessment.
- The Valuation Officer (VOA) may receive and process proposals.
- If a proposal is successful, the rateable value in the list may be reduced.
- Appeals against decisions regarding the rating list can be made to a tribunal, such as the Upper Tribunal (Lands Chamber).
💡 Examples
- A shop was entered into the 2010 Rating List at a rateable value of £12,000, but a proposal led to it being reduced to £11,000.
- A property owner submitted a fresh appeal against their assessment in the rating list, citing similar grounds to a neighbouring identical unit.
- A proposal was made against the compiled 2010 rating list assessment of £57,500 for a retail unit, resulting in its rateable value being determined as £0.
- A property's lease was renewed, and it was entered into the 2010 Rating List at £10,000 RV with a description of shop and premises.
📚 Legal basis
- Tribunals, Courts and Enforcement Act 2007
❓ Frequently asked questions
What is the purpose of a rating list?
The rating list's main purpose is to record the rateable value of non-domestic properties, which is then used to calculate the business rates that property owners or occupiers must pay.
Can I challenge an entry on the rating list?
Yes, you can challenge an entry by submitting a 'proposal for alteration' if you believe the rateable value of your property is incorrect. This can lead to a review and potential reduction of the value.
What is a 'rateable value'?
The rateable value (RV) is an assessment of the annual rent a property could be let for on a specific valuation date. It's a key figure in determining your business rates bill.
What happens if my proposal to alter the rating list is successful?
If your proposal is successful, the rateable value of your property in the rating list will be changed, usually reduced, which can lead to lower business rates.
Where can I find the rating list for my property?
Rating lists are typically maintained by the Valuation Office Agency (VOA) in England and Wales. You can usually access this information online through their official website.
What is an 'antecedent valuation date'?
The antecedent valuation date (AVD) is a specific date in the past that is used as a reference point for valuing all properties in a particular rating list. This ensures consistency in valuations across the list.