New buildings and business rates | Altus Property Services

New buildings and business rates

New buildings are routinely added to the Rating List by the Valuation Office, usually following notification by the Billing Authority.

Although in recent times, as a result of a reduction in resources, new and added buildings have often been overlooked when it comes to business rates, and do not always get added to the Rating List immediately.

There is no obligation for ratepayers to make either the Billing Authority or the Valuation Office aware of any such omissions, but ratepayers would be well advised to make provision for any potential backdated charges.

In respect of new buildings where the completion of the building is delayed, the Billing Authority may issue a completion notice – a document that specifies the completion date for newly built properties and the date the property becomes liable for business rates and entered into the Rating List if unchallenged.

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