Do I have a claim?
Anyone that pays business rates has the right to submit an appeal seeking a reduction in business rates. Carrying out an appeal will not affect your relationship with the Council and is something many businesses do at some point to reduce their operating costs.
If your business has received its business rates bill and you’re wondering if you can claim back some of the money or reduce it in future years, here are some simple things to look for:
- Your property rent is lower than your rateable value.
- Your rateable value has increased since your last bill.
- You don’t fully occupy the property.
- You have vacated or demolished part of your premises.
- Your local vacancy rates have increased.
- Your property is undergoing maintenance works sanctioned by the landlord.
- Your property is affected by maintenance works being carried out on a neighbouring building or roadworks.
- The Valuation Office has valued a reception or service area that is not within your control or is a communal area.
- The Valuation Office has served a notice on your property.
If you believe you could possibly have a claim, our Partner can provide you with the assistance you require to ensure your business rates appeal is handled professionally – and with an 83% success rate, they can maximise your potential savings.
Appeal my rates
If your business is paying too much in business rates, our partner has a highly-skilled team of Chartered Surveyors who can assist you with your rates appeal to ensure your rates are reduced.
With a success rate of 83%, our partner has helped secure their clients large reductions in Rateable Value and millions of pounds in business rates refunds. Their no win, no fee policy ensures that you only pay when they save you money.
Empty property rates
Unoccupied properties are liable for business rates at the same basic level as occupied properties after an initial 3-month rate free period or, in the case of industrial properties, 6 months.
This places a heavy financial burden on ratepayers who are paying full rates on a vacant property. In these situations, it is essential that ratepayers act to reduce their empty rates liability through a variety of available strategies.
With a team of specialist Chartered Surveyors, our partner can help look at your empty property rates liability to ensure you don’t overpay. Their team will offer you professional and honest advice with the sole focus of reducing your liability.
They have several solutions for ratepayers to reduce empty property rates, achieving savings of up to 70% in many cases.
What are business rates?
Business rates are a tax applied to commercial properties. They apply to properties such as:
If you use a building or a part of a building for non-domestic purposes, then you will be required to pay business rates.
The business rates you will be asked to pay are based upon your property’s rateable value which is assessed by the Valuation Office Agency. Your local authority uses this rateable value, multiplied by a national rate multiplier, to arrive at the total business rates you must pay for that year.
How is my bill calculated?
Four factors are considered when your business rates bill is calculated:
- The number of days within the rate year for which you are responsible for the property.
- Rateable value: This is an assessment made by the Valuation Office Agency.
- Uniform Business Rate (UBR): This is a multiplier set by central government.
- Transitional surcharge/relief or other supplements such as Cross Rail contribution.
The total business rates you pay are based on all the above factors. The only one of these that can be challenged is the rateable value.
Can I challenge my bill?
In many cases, the rateable value of your property calculated by the Valuation Office Agency is too high. This will lead to you overpaying business rates, in some cases for many years. Our partner can help you claim a refund and reduce your business rates bill in future years.
If this service is of interest to you click here to contact Abacus
We are here for any of your accountancy needs. Touch base with one of our advisors.