Location, Location, Location – NTF & Philip Hobbs successfully challenge VO’s standard rate for all weather gallops
Geoffrey Leaver Solicitors offer their congratulations to the National Trainers Federation (NTF) and trainer Philip Hobbs in his successful appeal against a Valuation Tribunal Decision concerning the value of all weather gallops.
The test case brought by Mr Hobbs and supported by the NTF has clarified that location should be taken into account when assessing the rateable value of all weather gallops at racing yards. Despite it having been long established that location was a factor when assessing the rateable value of stables and other equine facilities the Valuation Office applied a set rateable value to all weather gallops, regardless of location. The Upper Tribunal has confirmed that this approach is incorrect. The Upper Tribunal reduced the rateable value of all weather gallops by a percentage largely akin to the location reduction applied to boxes but subject to some small variations in respect of the construction cost of the gallop surface. This will represent a significant saving for rural racing yards outside the major racing centres.
The full text of the Upper Tribunal decision is available here
Geoffrey Leaver Solicitors were delighted to have been able to assist the professional team in this matter: William Simpson of Tyco Consulting and Cain Ormondroyd of Francis Taylor Building