Business Rates Review
Business rates changed following revaluation of properties in April 2017. This means it is an ideal time to assess whether your business should have seen any adjustment.
Reducing your Business Rates
Challenging your business rates can save you significant amounts of money and with our support it is a straightforward process.
Business rates are charged on most non-domestic properties, such as shops, offices, pubs, warehouses, factories, holiday rental homes or guest houses. You’ll probably have to pay if you use a building, or part of one, for non-domestic purposes.
Local authorities send business rates bills in February or March each year, for the following tax year. You can estimate your bill and contact the Valuation Office Agency if you think that a property’s rateable value is wrong and a bill will be reduced if your property is eligible for business rate relief.
Revaluation in 2017
At revaluation, the government adjusts the value of business rates to reflect changes in the property market. It usually happens every five years and the most recent revaluation took place in April 2017 in England, Scotland and Wales.
Benefit of our advice
We have established an alliance with two experts in rates negotiations. They look at your rateable value (RV) and see if there may be potential to save you money. If a business owner has more than one assessment, it may be possible to merge the RVs and allowances for a fragmented layout or split site.
A reduced RV could also occur for a temporary period whilst building work is undertaken. If a ratepayer is making substantial alterations or refurbishing a premises, there may be scope for zero RV, assuming the premises are empty for the work’s duration.
We can support you with advice and guidance on business rates whenever the need may arise whether that be for existing properties or for properties you may be considering acquiring.