Non-Domestic Rating Bill
At the end of March the Government introduced a Non-Domestic Business Rating Bill which if enacted will have a significant impact on all ratepayers.
New Ratepayer Duty to Notify
The Government are to introduce a ratepayer obligation to notify the VOA within 60 calendar days of any changes to the occupation and characteristics of their properties. Examples of details to be notified include:
· Signing a new lease
· Signing a sub let
· Signing a rent review memorandum
· A change in rent, e.g. as a result of a CVA
· A change to a lease e.g. side agreement, deed of variation
· The start or ending of the occupation of a property
· Alterations to a property
The new duty will be phased in during the 2023 Revaluation period. The government will permit the bulk upload of information enabling ratepayers with multiple properties to upload information on notifiable changes every 30 days.
This significant obligation is being proposed despite the Government confirming they had been advised in both roundtables and written responses that ratepayers would need to provide additional resources and would incur additional costs to meet the duty.
Compliance and penalties
If ratepayers fail to provide their information then they may be liable for a penalty.
We will aim to provide further information when it comes to us.
This article in Today's Conveyancer, reports that areas of the country with higher property values are seeing the biggest level of sales falling through, with the south-east of England seeing around a quarter of those (24 per cent) and the north-east experiencing levels as low as three per cent. The types of homes most prone to a breakdown in the sale are detached homes at 34 per cent and flats at 27 per cent. The data was gathered by Moverly, and the co-founder, Ed Molyneux, said: “...a head in the sand approach from sellers when setting their asking price is also a contributing factor and many are also coming unstuck once they reach the survey stage and issues are found within their home.”
From 1st April 2023 the way Morley Riches & Ablewhite serves its customers is changing. Services will be delivered by three firms which will trade together as the Morley Riches and Ablewhite Group.
Morley Riches, Chartered Surveyors run by Peter Riches and Samantha Morley will undertake the management of The Crown Estate’s coastal and tidal properties in East Anglia and the south-east. It will also provide specialist development viability studies to support planning applications as well as carrying out property valuations and giving Landlord & Tenant advice.
Jon Ablewhite, Chartered Surveyor will focus on Commercial property agency, valuations and Landlord & Tenant. Morley Valentin Properties will focus on the management of commercial property portfolios.
The new structure will provide each firm with the flexibility to focus on its core areas. However, we will share resources and work in collaboration so our clients do not lose the breadth of experience gained over many years.
Copyright © 2023 Morley Riches - All Rights Reserved.
Vat Number: 435 3456 95
Morley Riches, Chartered Surveyors is a trading name of Rushbrigg Limited, registered in England and Wales No. 14612930 at 4&5 The Cedars, Apex 12, Old Ipswich Road, Colchester CO7 7QR.
Suffolk Office: Rushbrigg House, 4 Low Meadows, Hacheston, Woodbridge IP13 0DQ
Rushbrigg Limited is part of the Morley Riches & Ablewhite group of companies.
Phone: 01206 505709