Rating Talking Heads: October 2023
The Non Domestic Rating Bill Update
This event runs as an informal discussion with a small panel of leading and informed practitioners extracting the nuances from the selected topic. They discuss practical issues that arise, with participants in the meeting being encouraged to listen, join in, ask questions and share comments.
| Start Date | Venue | Price | |
|---|---|---|---|
| 16 October 2023 | Virtual Monthly Discussion |
Note: All prices are to be paid in GBP and are subject to VAT at the prevailing rate
October's Discussion: The Non Domestic Rating Bill Update
The Non Domestic Rating Bill is a major piece of reforming legislation for the rating industry. It will impose a sea change in the duties and expectations imposed on rating advisors and ratepayers. The Bill is due to receive Royal Assent at the end of October 2023. Much of what the sea change will require enabling legislation, is not ready for public consumption for several months. But as part of the Bill, there are two significant areas that do need consideration now.
- Under the heading “tightening” MCC proposals, there are some fundamental changes that ratepayer advisers need to be aware as they become effective once the Bill receives Royal Assent.
- In addition, the legislation provides the framework for improvement relief, which advisors should be preparing for.
This talking heads event will take place whilst in the Bill’s ping pong phase. For those unfamiliar, parliamentary ping-pong is a phrase used to describe the process where the 2 houses of Parliament ‘negotiate’ any last minute changes and the bill bounces back and forth between the two chambers. It tends to be tweaks to phases, it doesn’t affect the content or core elements of the Bill, but with the new MCCs rules beginning at Royal Assent, there is a need to know.
October's Talking Heads
- Simon Griffin BSc (Hons) MRICS, Rating Director, Jones Lang LaSalle; Immediate Past President of The Rating Surveyors' Association
- Stuart Hicks BSc (Hons) FRICS Dip Rating IRRV (Hons), Head of Rating, Dunlop Heywood; Immediate Past Chair of the Rating Diploma Holders' Section of the RICS
- Mandy Franklin MRICS Dip.Rating, Technical Advisor, Valuation Office Agency
- David Alford MRICS Dip.Rating, Lead Specialist for Utilities, Transport & Telecoms, National Valuation Unit - Chief Valuer Group, Valuation Office Agency
- Josh Myerson FRICS Dip.Rating IRRV (Hons), Head of Advisory, Montagu Evans LLP; Chair of the Rating Diploma Holders' Section of the RICS
- Richard Williamson MRICS BSc (Hons) IRRV (Hons), National Head of Rating, WSP GL Hearn; President of The Rating Surveyors' Association
Programme
MCCs
- An overview of the changes
- Does this mean the end of MCCs?
- The valuation impact beyond MCCs
Improvement and Other Reliefs
- How long will the relief scheme last?
- What is a Qualifying Improvement Work?
- What is the occupancy condition?
- What will not be included in the certified amount?
- What if there are multiple improvements within 12 months?
NDR Bill Update
- In addition to focusing on the above areas, the webinar will provide an outline of how other parts of the Bill have weathered during the progress of the Bill
- Shorter period between revaluations
- Pro-active and mandated ratepayer behaviours regarding information submissions
- Legalising data sharing
- The emergence of Digitalising Business Rates
- Administration changes to multipliers, the central list, completion notices (in England), accounting for business rates retention and enabling BA’s to make retrospective discretionary relief awards.