Posted: April 23rd, 2015

Valuation and Law – Local taxation

Question 1
Identify one hereditament with a Rateable Value of over £150,000 within Greater London but not within the Corporation of the City of London boundary.
a. Calculate the rates which should be payable for this hereditament each year from 2009 to 2014.

b. Clearly explain and discuss the basis of calculating the Rateable Value and clearly explain the rates payable calculations.

c. Provide considered advice on whether there are any potential savings which can be made to the rates payable.

Remember: always to state the relevant law, and to support your arguments with reference to statutory or judicial authority where available and appropriate. It is not necessary to write out at any length the facts of a case you are citing as authority for a point you are making; just extract the relevant principle, or, as appropriate, the factor which ‘distinguishes’ that case from the facts in the case you are considering.

Question 2
The Chancellor has announced that there will be a review of Local Authority financing.
Discuss your views on the current basis of local taxation and provided your considered opinion on changes to the current systems which you think should be introduced.