Time is running out to appeal your fibre tax valuation| Virgin Media Business

Many Fibre Optic network providers may face paying up to 40% more fibre tax than they need to. And the clock’s ticking for any chance to appeal.

The window closes on March 31, 2023, for businesses to check and challenge existing business rates valuations. And the reality is the process needs to begin well before that date.

Miss the deadline and your business could end up paying more than it needs to.

That’s why, we’ve teamed up with the UK’s leading business rates experts Avison Young to offer Altnets a free, no-obligation consultation.

We’ll provide essential tips and general guidance on how to navigate the existing fibre tax system and new regulations in the pipeline. So, you can plan your next steps.

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Your Virgin Media O₂ Business advisor will give you all the information you need for the right solutions when planning your networks.

Alongside them will be a senior member from Avison Young’s team who are recognised as authorities in issues relating to fibre tax.

They’ve already saved businesses millions, by making sure fibre optic networks don’t pay over the odds.

“If you leave it too late, and you will unfortunately be out of time. But Avison Young’s business rates team are here to help,” says Tim Harrison, Principal in Avison Young’s Business Rates Team.”

Tim brings more than 25 years of frontline experience handling commercial valuation and inspection across the UK.

He says: “Avison Young were the driving force behind the 40% reduction in the current fibre scale used for the 2017 Rating Lis. But the Valuation Office will only consider any reduction through the Check, Challenge, Appeal system.”

“You have to start the check, challenge, appeal process to confirm or update network information before being allowed to argue for the agreed reduction in the fibre scale”

“Businesses need to prioritise this as soon as possible. There are now just over 3 months before the Rating List closes. Beyond March 31 next year, you will be unable to appeal. So don’t leave it until the last minute.”

Virgin Media O₂ Business and Avison Young will also give you the latest advice on future regulatory changes that might impact your investment plans.

Tim says: “Businesses are in limbo, waiting on Treasury and Department for Levelling Up, Housing and Communities announcements. We can share our latest thinking on the way fibre optic business rates will be going as a result of the revaluation that will be effective from 1st April next year.”

“Perhaps most importantly, businesses want to know what might happen to multipliers and whether there will be a Transitional Rates Relief scheme. This will have a big impact on the final bills people get in 2023 and beyond.”

“All we will need at this initial -consultation stage is a brief overview of your current network and what type of network rollout you are looking at.”

“We’ll be able to give you an informed overview; the best way to approach the check, challenge, appeal process; and likely future movement in business rates liabilities for telecom networks.”