Blackburn’s Business Improvement District is reminding businesses to register for revaluation of business rates set to take effect from 1 April 2017.
The Valuation Office Agency (VOA), is prompting companies across the country to register for revaluation, which adjusts the value of business rates to reflect changes in the property market.
Business owners can now register an email address on the VOA’s website and in October 2016 a draft rateable value will be published online at www.gov.uk.
The process, which takes place every five years, asks companies to check that the details the VOA hold are correct in October.
Failure to check can result in many businesses paying an incorrect amount in business rates.
Manager of the Blackburn BID, Harriet Roberts, hopes businesses in the town centre benefit from the process, which could potentially see business rates reduced. She said: “This is potentially good news for many businesses in the Blackburn BID area. We simply want to remind business owners that the next revaluation for business rates takes effect next year.”
The Government has also announced it will be introducing an improved business rates appeals system in April 2017.
For more information visit: www.gov.uk/voa
