Centre of Rating Excellence opens doors to help tackle recent business rates Revaluation
Business rates specialists CVS Business Rates has opened it’s doors to it’s Centre of Rating Excellence, or CORE, once again. The training facility is dedicated to training new rent and rating surveyors to address the industry shortage of professionally-qualified surveyors and to meet the requirements of their rapidly expanding business following the long-awaited 2017 Revaluation.
This latest intake welcomes Rory Lyddon, Fidell Brown, Tom Crossley, Matt Evans, Emma Saunders, Rose Zulaikhah, Henry Edwardes, Austin Thomas, and Tom Carrott as they begin training to become the CVS Surveyors of the future.
The Government has now adjusted the Rateable Values of every business property in England and Wales to reflect changes in the property market. The new Rateable Value will be used to determine the basis of the tax calculation for rates bills next April. The revaluation of business properties usually happens every 5 years but was controversially delayed by 2 years as a result of the economic downturn. The last revaluation came into effect on 1st April 2010 based on the property market as long ago as 1st April 2008, meaning that businesses across the UK have waited for this revaluation for longer than they should have.
The heart of the action
The recent business rates Revaluation has created major ‘winners’ and ‘losers’, like Heathrow Airport and most London pubs for example.
Unsurprisingly London bears the brunt of the changes. Rateable Values in the capital have, on average, increased by 24% and rates bills across the 33 boroughs are estimated to rise by 15% next year.
The Centre of Rating Excellence launched in 2013 at CVS’ Head Office in Manchester following a £500,000 investment. Now, tomorrow’s surveyors are being trained from its London city centre office; purposefully positioned in the heart of the current business rates action.
The course is an intensive 11 week training programme led by Norman Withey. Norman has been involved in education for over 30 years and received the IRRV/VOA award for his contribution to Surveying Education in 2010. The students will, upon graduation, be equipped with the skills, knowledge and professional learning environment they need to deliver excellent client service and to fulfil their potential.
CVS Surveyors will be, upon completion of the course, on hand to help businesses across all sectors, from airports, steelworks and football stadiums to supermarkets and pubs.
Why are CVS doing this?
Nearly three quarter of a million businesses in England and Wales challenged their last assessment, and following the recent revaluation, where business rates bills across the country have risen by 9.2% overall, the Valuation Office Agency are set to face another busy year for rates appeals.
Businesses throughout England and Wales should ensure they are now paying the correct amount in rates bills. The Government has introduced a new rates appeal process known as ‘Check. Challenge. Appeal.’ (CCA). The CCA process is intended to manage the flow of cases through the system in a structured and transparent way, and each step must be fully completed in sequence to submit an Appeal.
CVS is preparing for the future, and their commitment to investing in the Centre of Rating Excellence stands to benefit the business, the surveyors involved, the profession as a whole, and most importantly, its current and future clients.