The British Beer & Pub Association (BBPA) is alerting publicans that they need to act quickly in response to a looming letter from the Valuation Office Agency (VOA) about their rateable valuation, if they want to avoid fines and unnecessary red tape.
The call comes because the VOA is once again commencing the data collection process ahead of the next revaluation period, which commences in April 2021. As is practice, the VOA is now writing to licensees requesting trading data that will feed into the revaluation process.
This information will be used to calculate the rateable value of every pub in England and Wales, which forms the basis upon which every pub’s business rates bill is calculated.
From receiving the forms, publicans have an initial 28 days to respond, followed by a second reminder two weeks later, which provides a further two weeks to reply. If the form isn’t returned within this 56 day time-limit, publicans could be liable for a penalty, as well as a longer form to fill out for the VOA.
If publicans have any questions about the survey, the VOA encourages the publicans to contact them directly.
BBPA chief executive, Brigid Simmonds, said:“To avoid more hassle and unnecessary paperwork, all licensees should look out for this short form from today and return it as soon as possible. While we continue to lead the call for a fairer rating system for pubs and a total review of business rates, further burdens and inconvenience can be avoided by looking out for this short form from the VOA and acting quickly to fill it in as soon as it arrives.”