Business rates system in meltdown
The Valuation Office Agency will be pushed close to breaking point, experts fear, as the HMRC agency fails to deal with a backlog of business rates appeals. The VOA is understood to deal with around 10,000 appeals a month, but figures suggest that a backlog of 300,000 appeals, some of which date back to 2010, has barely changed since the beginning of the year. John Webber, head of ratings at Colliers, said: “The VOA is under-resourced, undermined at every turn and demoralised. The Government"s decision to delay the last revaluation will come home to roost in a matter of weeks when we predict massive business rates hikes across London and the South East.” The new draft rating list will be published on September 30.
Source: The Mail on Sunday (07/08/2016)