What is Reval2023?
The next Non-Domestic Rates Revaluation will come into effect on 01 April 2023. Land & Property Services (LPS) will assess the individual Net Annual Values (NAVs) of over 74,000 non-domestic properties in Northern Ireland for rates. New business rates bills for 1 April 2023 will reflect market changes that have taken place between the last valuation date of 1 April 2018 and the new valuation date of 1 October 2021. Regular revaluations help ensure that business rates stay up-to-date and reflect local economic changes.
What Can You Do Between Now And 01 April 2023?
The draft list is not due to be published until January 2023, therefore we don’t yet have confirmation as to how the NAVs will change in the 2023 Valuation List.
John Gowland, Managing Director and Head of Rating at Gowlands says, “With less than 6 months left on the 2020 Valuation List this is an ideal time to review your current business rates liabilities and challenge your current rateable value to ensure LPS records are accurate, and the basis of the 2023 assessment reflects changes that may have occurred in recent years. A reduction can, in most cases, be backdated to 01 April 2020 and can have a positive impact on your 2023 business rates liability."
How Can We Help?
Our experience dates back as early as the 2003 General Revaluation, and we have worked through the 2015 and 2020 Revaluations in Northern Ireland and the 2010 and 2017 Revaluations in England and Wales. As the first and only agency in Northern Ireland to have a surveyor that holds the RICS Rating Diploma, we are your choice for representation. With extensive knowledge of rating law, our extensive case law library, and almost twenty years of experience, we will review your current rateable value and advise whether a Challenge to Land and Property Services could be beneficial.
From Power Stations to Workshops and Factories, Hotels to Pubs and Restaurants, Airports to Sporting Facilities and Stadiums, we are already helping clients across this diverse range of sectors to mitigate their business rates liabilities in anticipation of NI Reval 2023, representing them on both the current and the upcoming 2023 Valuation List.
We can help you too. Please give one of our experts a call today to discuss any business rates issues you may have and to sign up for representation for the 2020 and 2023 Valuation Lists.
Call: +44 (0) 28 7051 7561 or +44 (0) 7808 514 643
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