The PRA is urging members to fill in and return forms they should have received from the Valuation Office Agency (VOA).
In preparation for the 2017 rating revaluation, the VOA sent out forms requesting information from petrol station operators in England and Wales in April. The Scottish Assessors Association (SAA) sent out forms requesting information from Scottish operators.
This information will help the VOA and SAA update rateable values, which councils use to calculate the business rates you will pay.
The forms ask for trade information from the last three financial years (or as much information as you have if you have not been the occupier for that long), and any rental information. Failure to provide this information can lead to a fine of at least £100.
Brian Madderson, chairman of the PRA, said: “The PRA, together with rating advisors, is working closely with the VOA to encourage retailers to complete the Forms of Return (FORs) as quickly and accurately as possible. This will enable the VOA and SAA to better assess the market conditions prevailing over the last three years leading up to the ‘tone’ date of 1 April 2015.”
Anyone with responsibility for a number of petrol stations can provide the information to the VOA and SAA in spreadsheet form rather than completing an individual form for each property. Operators in England and Wales can find out how by calling 03000 502889 or email@example.com
In Scotland the number is 0300 300 0150 or contact firstname.lastname@example.org