Valuation and Law - Local Taxation

Answer both Question 1 and Question 2

Question 1

Identify one hereditament with a 2017 Rateable Value of over £55,000 within Greater London but not within the Corporation of the City of London boundary.

a. Discuss the definition of a hereditament. This should include discussion on whether floors within a building or adjoining buildings should be a single hereditament or more than one hereditament.

b. Calculate the rates which should be payable for your identified hereditament each year from 2017/8 to 2022/23 and clearly explain your calculations.

c. Estimate your opinion of whether the proposed 2017 Rateable Value is correct or whether there is scope to argue for a reduction. Provide full reasons for this opinion.

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 some changes to Local Authority financing but the government continue to review local government financing.
Provide your considered and reasoned opinion on changes to the current Local taxation systems which you think should be introduced.

*Report needs to be in relevance to U.K property laws