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Business Rates News | Mini Budget – Colliers International

Recently we sought guidance from Colliers International in the hope that we could share with you what could be expected from the 2023 Rates Revaluation.

At that point in time it was difficult to accurately estimate what values the Assessors will apply at the 2023 Revaluation but that the Assessors will be issuing draft values at the end of November this year.

The ‘tone date’ for the 2023 Revaluation is 01/04/23 and, given the uncertainty of recent times it was difficult to put exact figures at that stage.

Whilst business rates is a devolved issue in Scotland, decisions made in respect of business rates by UK Government will have an impact in Scotland.

We have since received the following from Colliers:

“September’s Mini-Budget was disappointing, with business rates largely ignored despite the impact that ultra-high rates bills have had on businesses.

With just six months to go before the next revaluation, businesses still have no idea what their rateable values will be, what the multiplier will be or how the government will respond to its summer consultation on transitional relief. With no clarity about how much they will be expected to pay in their rates bills come April, how can businesses be expected to plan ahead sensibly?

In terms of those businesses whose rates bills are likely to go up – such as those in the industrial or distribution sector, as well as some in the offices sector – we also think that given the current pressures from spiralling costs and wage growth, no business should have to pay more than a 15% rise (including inflation). For smaller and medium sized businesses, these increases should be limited to no more than 5%-10% (including inflation).”

So, whilst there is no clear indication from Colliers, we will continue to share any Business Rates information we receive from them.

David Anderson

David was a partner in the local aggregate business Hamilton & Brydie and had been a Director of the business for almost 20 years. Hamilton & Brydie was sold recently and David is now the owner and Director of Anderson Properties (Scotland) Ltd.

Ali Davidson

Ali has 25 years’ experience in local economic development, firstly as Property Manager and then Assistant Director at STEP in Stirling. Ali then joined Ceteris in Alloa where she managed the Business Development team, delivering Business Gateway support in Clackmannanshire. Ali’s current role is Team leader, Economic Development at Clackmannanshire Council, overseeing employability programmes, UKSPF projects, and other economic development activity. Ali has a BA (Hons) degree in Economics, Post Graduate Diploma in Facilities Management and SFEDI Diploma in Business and Enterprise Support.

William Marlin

William is a Director at 123v LTD, a family run business which was established in the 1990s that specialises in carport and canopy design and install. He studied Law & Management and was involved in property renovations for many years. In 2015, he joined the family business where he works in Sales and Marketing as well as general management.

Doug Moodie (BA FCCA DipM)

Doug is a Chartered Accountant and Management Consultant having worked predominantly in Financial Services. 

He was appointed by Scottish Government in 2022 as Chair of Care Inspectorate in Scotland, Director of NHS Healthcare Improvement Scotland and Director of Scottish Social Services Council (SSSC) and has been Chair of Children’s Panel in Falkirk for over ten years. Doug is passionate about young people and is the owner of Kidz World Nursery Ltd in Alloa and Stirling. Doug is also Managing Director of various property companies involved in Lettings, Holiday Homes, Development and Property Factoring.