Under the Local Government Finance Act, 1988 ("LGFA, 1988") owners and occupiers of commercial property in the UK have the right to appeal against business rates assessments if the valuation is beleived to be incorrect.
Business rates are calculated based on property valuations conducted by the Valuation Office Agency ("VOA") known as Ratebable Value ("RV"). A business rates multiplier (set by the Local Billing Authority), known as a Uniform Busines Rate ("UBR"), is applied to this value to calculate the annual business rates chargeable.
There are many reasons why the RV could be incorrect, such as physical changes to the premisis or its use. Business rates relief may also be available due to changes in circumstances affecting your business and/or property.
Our business rates review service is designed to provide a comprehensive assessment of your situation to determine the potential for a successful appeal, based on the full range and scope of statutory provisions currently available.
Business rates appeals are governed by the Rating (Check, Challenge, Appeal) Regulations introduced by the VOA in 2017. The first step of the process is to check the rating list to determine if the physical charactersitcs of the property have been correctly reflected in the rating assessment. This is followed by an application to amend the RV, if the valuation is incorrect. The VOA will appoint a valuer to assess the case and initiate negotiations. If this proves unsuccesful then an appeal can be made to the Valuation Tribunal.
The appeal process requires a retrospective valuation of the property and it is therefore necessary to have adequate knowledge of the statutory valuation parameters as well as the VOA's specific rules and guidelines. That's where we come in!
As your representative, we will carry-out a Rateable Value Assessment to determine if there is a sound basis for appeal. We will then prepare all supporting evidence and present your case to the VOA. Follow-up negotiations are handled by us and once a final agreement has been reached, we will ensure that the rating list is updated through the correct procedure and documentation. As our client, you will always be kept informed of any settlement offers (or counter-offers) and we will provide you with our recommendations. We never make material decisions without our clients' informed consent.
Our Rateable Value Assessment is prepared in letter report format and includes the following:
If, after our initial assessment, you wish to retainua to make an appeal for you then we charge a contingnecy fee based upon a percentage of the annual savings in business rates averaged over a 5 year period (to be agreed on a case-by-case basis).
All fees are exclusive of VAT and any out-of-pocket expenses may be added to our final invoice based on our List of Charegeable Expenses.
Call us today on +44 7436 675934 to discuss your requirements and obtain a fee quote or Email Us