Scottish retailers are being warned to ensure the rateable value placed on their properties is accurate, as the business rates appeal deadline looms.
Real estate agency and consultancy Colliers International has warned that failing to check rateable values could lead to a ”lengthy and costly” appeals process.
It comes after some retailers suffered large increases in their business rates following the rating revaluation in April this year.
Unlike the rest of the UK, businesses in Scotland were given six months to submit an appeal. The deadline is the end of September.
“Reform of some aspects of the business rates system in Scotland is expected to come soon, including a separate move from Valuation Appeal Committees to a tribunal system,” said John Webber, head of rating at Colliers.
“Ratepayers therefore need to stay alert to changes as they happen and ensure that their interests are protected. Lodging appeals now will ensure any validity issues can be resolved – but only just in time. Businesses really cannot afford to delay further.”
Louise Daly, associate director of Rating at Colliers International in Scotland, added: “Given the extremely restrictive nature of mid-valuation roll appeals in Scotland, ratepayers have a relatively short opportunity to submit a revaluation appeal and dispute any or all aspects of the valuation that were set from 1 April 2017. They now have less than a month remaining to do so.”