Rating Talking Heads: October
MCCs and COVID
This event runs as an informal discussion with a small panel of leading and informed practitioners extracting the nuances from the monthly topic. They discuss practical issues that arise, with participants in the meeting being encouraged to listen, join in, ask questions and share comments.
Module Duration: 1 hour 3 minutes
Please note there are no slides accompanying this recording.
MCCs in the light of the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill is a topical, important, and worthy substitute. MCCs – for properties directly or indirectly affected by COVID will be of particular interest.
Over 300,000 checks have been submitted on behalf of ratepayers whose businesses have been compromised by restrictions imposed to deal with COVID, reaching peaks of more than 80,000 in May 2020 and more than 65,000 in November 2020. There are also more than 60,000 challenges outstanding, many relating to the impact of COVID. Yet the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill seeks to neutralise all of these, on the basis that the MCC challenge is not the appropriate mechanism for ratepayers to seek reductions in their business liabilities, and that ratepayers should wait for changes in rateable values at revaluation in 2023.
Whilst there will be an explanation of what the Bill says in the discussion, the main focus will be;
- What is the position of outstanding COVID checks and what, if anything, should be done with them?
- What is the position where a COVID challenge is in place and what can be done with these?
- How does the position alter if the Bill becomes law?
- The Government has promised £1.5 billion for rates relief to support businesses affected by COVID – how can businesses access this?
- What MCCs are excluded from the effects of the Bill and can any MCC checks and challenges still succeed if the Bill becomes law?
October's Talking Heads
- Tim Johnson BSc (Hons) MRICS, Senior Director, CBRE, Vice President, The Rating Surveyors' Association
- Blake Penfold BSc FRICS MCIArb, Business Rates Consultant, Blake Penfold Consultancy
- Josh Myerson FRICS Dip.Rating IRRV (Hons), Partner and Head of Rating, Montagu Evans LLP; President, The Rating Surveyors' Association