Key insights

• 🏠 🏠 Heat network relief is now mandatory until April 2023, benefiting properties involved in heat distribution.
• 🔍 🔍 New legislation refines completion notice procedures, increasing local authority powers and transparency for taxpayers.
• 📊 📊 Taxpayers must now provide various identification numbers to HMRC online, requiring timely updates to avoid penalties.
• 🏢 🏢 The appeal process is transitioning to a Challenge and Appeal system by 2026, introducing stricter penalties for inaccuracies.
• 📊 📊 A consultation on reforms aims to address tax avoidance related to empty property relief while supporting legitimate landlords.
• 💼 💼 Professionalism and compliance standards are crucial in the valuation industry to ensure fair practice among all agents.
• 🔗 🔗 Training and closer relationships with professional bodies are being emphasized to enhance agent compliance and standards.
• ⚖️ ⚖️ Concerns over rogue agents highlight the need for better regulations and oversight in the rating and valuation processes.

Q&A

• What challenges are identified regarding partial occupancy claims? 🏠

  The session highlighted challenges related to disclosure and compliance, particularly concerning partial occupancy claims. Local authorities are keenly scrutinizing these claims for accuracy, which raises the importance of clear communication and adherence to established standards.

• How are professional standards emphasized in the valuation and rating industry? 📊

  Professional standards and compliance are crucial in the property valuation and rating industry. The discussion emphasized the need for equal adherence to standards among agents and proposed initiatives like onboarding packs and training to enhance professionalism and cooperation with regulatory bodies.

• What is the UK government's consultation on empty property relief? 🇬🇧

  The consultation that started on July 6 aims to reform empty property relief to prevent tax avoidance while still supporting landlords. It highlights issues with rating agents promoting evasion schemes and seeks evidence to improve regulations against losses from rate evasion.

• What changes are being made to the appeal process for business rates? 🏢

  By 2026, the appeal process will transition from the Check Challenge Appeal system to a streamlined Challenge and Appeal system. This change includes stricter penalties for misinformation, adding potential criminal charges for false statements, and alterations to the indexing of multipliers.

• What are the new identification requirements for taxpayers? 📋

  Taxpayers in England are now required to submit various identification numbers to HMRC via an online portal, including unique tax reference numbers, VAT numbers, and National Insurance numbers. This must be completed within 60 days of becoming a ratepayer to ensure compliance and avoid penalties.

• What recent updates have been made to the completion notice procedure? 📑

  New legislation alters completion notice procedures, which will take effect within two months. The updates aim to clarify processes and enhance local authorities' power to manage assessments, aiming for greater accuracy and transparency within the rating system.

• What are the implications of the new property revaluation timeline? ⏳

  The move from a five-year to a three-year valuation list will enhance property revaluation accuracy and frequency, responding better to current market conditions. This change aims to provide more timely assessments based on available evidence and informs property owners more effectively.

• How are discretionary rate relief regulations updated? 🏛️

  Discretionary rate relief under Section 47 has been actively used by local authorities, but recent legislation changes affect how this relief can be applied. Local authorities must adapt to these updates, which emphasize new eligibility criteria and guidelines for providing relief.

• What is heat network relief and how has it changed? 🌡️

  Heat network relief is now a mandatory property relief in England that provides support for certain properties that use communal heat systems. This mandatory relief will remain in place until April 2023, allowing eligible properties to benefit from financial support under the new legislation.

• 00:00 This segment discusses various changes to property reliefs and regulations in England, particularly focusing on heat network relief, discretionary rate relief, and adjustments to property revaluation timelines and procedures. 🏠
• 06:48 New legislation introduces significant changes to the completion notice procedure and valuation processes, enhancing the power for local authorities and the information sharing among tax bodies, while also tackling issues in the current rating system. 🔍
• 13:52 📊 New legislation requires taxpayers to provide various identification numbers to HMRC via an online portal and to notify valuation officers of property information changes. Compliance is essential to avoid penalties, and there's a focus on digitalizing the process for efficiency.
• 20:52 Significant changes to the appeal process and compliance for business rates are being implemented, shifting towards a more streamlined Challenge and Appeal system by 2026, along with stricter penalties for non-compliance and false statements. 🏢
• 28:00 The UK government is consulting on reforms to address tax avoidance related to empty property relief, seeking to balance support for landlords with preventing abuse. The consultation highlights issues with rating agents promoting avoidance schemes and calls for improved standards and regulations to mitigate losses from rate evasion. 📊
• 34:38 The discussion highlights the importance of professionalism, standards, and compliance in the valuation and rating industry while identifying the need for equal application of standards among agents. Initiatives like onboarding packs, training, and the necessity for a cooperative relationship with professional bodies were emphasized. The session also touched on challenges in disclosure and compliance, particularly regarding partial occupancy claims, and concluded with an openness to further questions.