Business Rates: New Duty to Notify Property Changes

The Government is planning to introduce a new business rates “duty to notify” requirement for commercial property owners and occupiers. However, the timetable is under review and the new rules will not become mandatory before 2029.

Under the proposals, businesses will need to notify the Valuation Office Agency of certain changes affecting commercial property. These may include a change of occupier, changes to a lease or rent, and alterations to the property itself. Some businesses may also need to provide annual trading information where this is used to determine the property’s rateable value.

There is no immediate action required. However, businesses that own, lease or let commercial premises should continue to keep accurate property records and document any changes, helping them prepare for the new requirements when they eventually come into force.