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Every five years the government undertake a revaluation of non-domestic properties for the purpose of calculating business rates. The process begins two years ahead of the date on which the revaluation is due to take effect. It is now in progress for the April 1, 2005 revaluation. The timetable means that businesses will receive the results of their assessment this time next year and will get new rates bills in March 2005, payable in April.

The revaluation covers England, Wales and Scotland and includes some two million individual properties. On October 6, the RICS launched new business pages on their website, specifically designed to help small businesses with their property needs.