Martin Lewis is encouraging individuals to conduct a quick 10-minute assessment to determine if they might be entitled to significant refunds. The MoneySavingExpert (MSE) team states that a large number of households in England and Scotland may currently be placed in incorrect Council Tax bands.
MSE elaborates that some property owners and tenants have been inadvertently overpaying Council Tax for extended periods due to higher-than-accurate bands, resulting in common refunds of thousands of pounds. Therefore, households in England and Scotland are advised to verify if their band could be reduced, potentially leading to retroactive refunds and reduced future bills.
Through an alert on Instagram, MSE highlighted that hundreds of thousands of homes could be eligible for refunds. They emphasized that despite an upcoming Council Tax increase in April, many households could lower their bands and receive substantial refunds. This discrepancy is attributed to Council Tax bands still being based on outdated property valuations from 1991.
Additionally, MSE shared a success story from a forum user who expressed gratitude towards Martin Lewis for guiding them on reassessing their Council Tax band, resulting in a refund of £6,572 after fourteen months.
The Instagram post directed individuals to MoneySavingExpert.com to access Martin Lewis’ ’10-minute Check and Challenge guide.’ The guide recommends conducting two checks before requesting a band revaluation, as bands could potentially increase instead of decrease.
Firstly, it suggests comparing your band with that of similar neighboring properties in size and value using Gov.uk in England or the Scottish Assessors Association in Scotland. If neighboring properties are in lower bands, a claim may be possible, although it could indicate an overall banding error.
Furthermore, individuals are advised to conduct a valuation check to ascertain their property’s 1991 value and potential eligibility for a lower band. MSE provides a free home valuation calculator for this purpose.
Lastly, the advice emphasizes that a challenge should only be submitted if the property passes both checks. The submission process varies based on the duration of residency and location, differing between England and Scotland.