The impacts and shortcomings of the Autumn Statement

Parliament
Published on: 24th November 2016

Robert Brown, partner in our business rates team, considers the impact of the Autumn Statement.

Robert said: “Some of the eye-catching announcements in Chancellor of the Exchequer Philip Hammond’s first Autumn Statement were those relating to technology. 

As well as allocating £1 billion for improvements to the UK’s digital infrastructure, the government will introduce 100 per cent business rates relief for new fibre optic broadband infrastructure.

This will allay the fears of those companies who expected to see their business rates increase significantly following the recent rates revaluation, and will certainly give the industry a boost.

“However, aside from confirming the previously-announced £6.7 billion business rates reduction package and increasing rural rate relief from 50 per cent to 100 per cent and thereby correcting a long-standing anomaly, there was no further clarification on business rates.

“With the revaluation of commercial property for business rates due to come into force in April next year, we had hoped Mr Hammond would use this platform to provide details of the system which will be in place after April 2017.

“This is causing uncertainty in the market as businesses cannot confidently predict their occupational costs, so I sincerely hope that the Chancellor will clarify this soon and provide UK businesses with the details they require to plan ahead.

“Also, one of the key measures confirmed by Mr Hammond is that he will fund investments in large infrastructure projects including both road and rail improvements across the UK. 

“Several of these projects will require the purchase of larges areas of land before any work can be undertaken, so both homeowners and businesses can expect to see more compulsory purchase activity from acquiring authorities such as The Highway Agency, HS2 and TfL.”

 Contact Us

Business Rates

Sanderson Weatherall Rating specialists are RICS and IRRV qualified surveyors that can offer a comprehensive range of Rating services to clients including Rating Appeals, Rating Valuations, Rates Management and Rates Audit, together with cutting edge advice on Empty Rates mitigation. Regarded as experts in the field, all our senior staff are members of the Rating Surveyors' Association and are able to offer the very best Rates advice on the accuracy of Rating assessments and resultant Business Rates liabilities. Through our experts' memberships of the Institute of Revenues, Rating and Valuation we are also happy to assist clients who have international local property tax liabilities. We participate in the activities of both of these professional bodies at the highest level and negotiate with government on the introduction of all new non domestic rating proposals. On the 1st April 2017 the new rating lists were published across England and Wales and from that date, businesses looking to challenge their business rates were required to do so through HMRC’s Government Gateway. If you don’t currently have an account then please follow the steps in our guide to setting up a Government Gateway account, registering properties and appointing an agent here.    Contact Us

Read More....

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Sanderson Weatherall Rating specialists are RICS and IRRV qualified surveyors that can offer a comprehensive range of Rating services to clients including Rating Appeals, Rating Valuations, Rates Management and Rates Audit, together with cutting edge advice on Empty Rates mitigation.

Regarded as experts in the field, all our senior staff are members of the Rating Surveyors' Association and are able to offer the very best Rates advice on the accuracy of Rating assessments and resultant Business Rates liabilities. Through our experts' memberships of the Institute of Revenues, Rating and Valuation we are also happy to assist clients who have international local property tax liabilities. We participate in the activities of both of these professional bodies at the highest level and negotiate with government on the introduction of all new non domestic rating proposals.

On the 1st April 2017 the new rating lists were published across England and Wales and from that date, businesses looking to challenge their business rates were required to do so through HMRC’s Government Gateway.

If you don’t currently have an account then please follow the steps in our guide to setting up a Government Gateway account, registering properties and appointing an agent here. 

 

Contact Us

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HS2 advice

Although the HS2 rail link may seem years away at the moment, this is an issue that property owners and tenant occupiers should be planning for now. We have a specialist team of compulsory purchase experts who are currently working with owners and occupiers of affected sites.

Read More....

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Although the HS2 rail link may seem years away at the moment, this is an issue that property owners and tenant occupiers should be planning for now.

We have a specialist team of compulsory purchase experts who are currently working with owners and occupiers of affected sites.

[fulltext] =>

Please contact us if you think you might be affected by the scheme.

What is HS2?

High Speed 2 (HS2) is a planned high-speed railway proposed to link The Midlands and Northern England with London Euston and other destinations such as destinations Lille, Brussels, Paris, and London Heathrow Airport.

The aim of HS2 is to reduce journey times and increase the volume of seats available. It is argued that reduced journey time will help to stimulate economic growth in UK and also increase the country’s rail usage.

The project is being developed by High Speed Two Ltd, a company established by the UK Government. The line is to be built in two phases with the section between London and Birmingham being the first phase, and on to Manchester and Leeds for the second phase.

The route would take a complex form of a "Y", with a trunk between London Euston and Birmingham Curzon Street. The route would then split into two spurs, one continuing to Manchester Piccadilly via Crewe and Manchester Airport. The other route is proposed to Leeds via Sheffield Meadowhall and East Midlands.

Click below to view the route:

Phase 1 - London to West Midlands

Phase 2 - West Midlands to Leeds

What are the timescales for HS2?

It is expected that the HS2 line will be operating by 2033.

The first phase, between London and Birmingham, was given Royal Assent in February 2017, giving the green light for work to begin on the route.

The second phase is expected to be given Royal Assent at a later date, but plans for the route are in their final stages and valuers will begin contacting land owners and occupiers during 2017.

Contact Us

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Video Guide to the 2017 Business Rates Revaluation

We have launched a seven video guide to the April 2017 Business Rates Revaluation. With the April 2017 business rates revaluation approaching, we have created a video series to help you understand what will be happening over the coming months, how the revaluation could affect your business and what you can do to plan for it.  

Read More....

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We have launched a seven video guide to the April 2017 Business Rates Revaluation.

With the April 2017 business rates revaluation approaching, we have created a video series to help you understand what will be happening over the coming months, how the revaluation could affect your business and what you can do to plan for it.

 

[fulltext] =>

 

We have launched a seven video guide to the April 2017 Business Rates Revaluation.

 Our short videos look at the following questions:

 

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