§ Mr. HigginsTo ask the Chancellor of the Exchequer what steps were taken to ascertain the profitability of businesses in the area before valuation for uniform business rates on commercial property in west Worthing were made by the Inland Revenue.
§ Mr. LamontRating valuations are based on rental values at 1 April 1988 and the valuation officer at Worthing sent out forms of return requesting rental information. In the case of specialised properties which were valued by reference to accounts, information about trading receipts was also requested, and this was followed up with requests for actual accounts in appropriate cases.
§ Mr. HigginsTo ask the Chancellor of the Exchequer how many appeals against uniform business rates valuations remain to be decided; and when he expects initial appeals against valuations to be completed.
§ Mr. LamontThe total number of 1990 rating list appeals outstanding at 31 March 1992 was 624,091 of which 409,000 were initial appeals. The target date for clearance of the initial appeals is 31 March 1994.
§ Mr. HigginsTo ask the Chancellor of the Exchequer what criteria are used by the Inland Revenue when valuing commercial properties for uniform business rates purposes.
§ Mr. LamontValuation officers are required to determine the rateable values of commercial properties having regard to the provisions of the Local Government Finance Act 1988. An estimate has to be made of the rent at which the property might reasonably be expected to be let from year to year based on levels of value at 1 April 1988, and all the factors which might affect this figure need to be considered.