After rent, Business Rates are probably the biggest single annual overhead for the occupiers and/or owners of commercial premises. Based upon an annually adjusted multiplier of a property’s Rateable Value, Business Rates are a Tax levied upon almost all commercial property.
The question of individual Rateable Values was last reconsidered nationally in 2005. The recorded figures are intended to reflect the rental values of the individual properties listed as at 1st April 2005.
Appeals can still be submitted against the 2005 Rating Revaluation list on a number of standard grounds or where a material change in circumstances has occurred since the valuation date. In other cases reliefs can be available to reduce or remove the liability either on a temporary or permanent basis.
Well considered appeals and relief applications have helped our Clients make large savings in their annual outgoings. Whilst more than 90% of all appeals are settled by local agreement, we can negotiate on your behalf with the VOA’s Head Office and represent you at Valuation Tribunal or the Lands Tribunal where appropriate and necessary.
Croft Surveyors operate under the Rating Consultancy Code of Practice published by the Royal Institution of Chartered Surveyors, providing commercially astute and professional advice to our Clients.
Copyright Croft Surveyors. Croft Surveyors and Croft Commercial are the trading names of Croft Surveyors Limited. Registered company number 6786865