Rateable Values

Commercial property in England, Scotland and Wales was last revalued on 1st April 2010 for business rate purposes. The Valuation Office assigned a new Rateable Value based on rental values as at 1st April 2008 to every non-domestic property. As a result, properties saw significant increases in their Rateable Value, especially in places like Central London and provincial town centres. The next commercial property revaluation for business rate purposes in England, Scotland and Wales will be on 1st April 2017. Every non-domestic property will have a new Rateable Value which will be based on rental values as at 1st April 2015.

It is essential that business are paying the correct rates for their properties and this is where Business Savings Experts can help. We have partnered up with a team of Chartered Surveyors who specialise in the complex and technical field of rating, successfully advising many high profile business on all classes of property throughout the UK.

Professional and persistent in achieving minimum rates liability for their clients they will pursue appeals to Local Valuation and Lands Tribunal if they believe it to be in the best interests of the client. Here are just some of the ways they could help you:

Appeals
There is a right to appeal against Rateable Value which, if successful, can result in rate savings for up to seven years.

Changes
Changing circumstances such as disturbance from adjoining building works, a shopping centre extension, pedestrian scheme or road works all give opportunities for appeal.

Savings
Delaying an appeal can result in lost rate savings as the effective date of a reduction may be limited. Further complications arise when rate demands are subject to transitional relief provisions (which limit increases and reductions in rate liability between Revaluations). It is important to understand the effects of transitional relief as backdating reductions in Rateable Value can sometimes result in an increase rather than a reduction in liability.

Financial
Future forecasts of rate liability can be provided to assist budgeting and the accuracy of rate demands can be checked. They will advise on savings achieved through appeal and, if required, will collect refunds from the charging authority.

Empty Rates
Advice on deletion of assessments due to disrepair, constructive vandalism or obsolescence. Rate mitigation advice including intermittent or charitable occupation and claims for temporary vacation of part of a property.