The VOA is now conducting a rates revaluation for the first time in seven years and from 1 April will be writing to licensees requesting trading data that will be used to feed into the valuation process.
This information will be used to calculate the rateable value of every pub in England and Wales, which forms the basis on which every pub’s business rates bill is calculated.
In a change from previous revaluations, the data being collected has been reduced dramatically, down to just one page, but there is a catch — the short form is only valid if it is returned within 28 days.
If this form isn’t returned within the four-week period, publicans will face much more lengthy paperwork in order to comply with the process. The alternative form runs to eight pages and asks for more complex information.
Paperwork
If this second form is not returned on time, then publicans could be facing fines. And if the VOA ends up having to estimate the valuation, this could result in a much higher rates bill that could then take years of effort to change.
British Beer and Pub Association chief executive Brigid Simmonds said licensees should return the form as soon as possible to avoid extra paperwork.
“While overall, we will continue to lead the battle for a fairer rating system for pubs, any extra burdens and inconvenience can be avoided by looking out for the short form, and acting quickly to fill it in as soon as it arrives,” she said.