Commercial Business Rates Advice
All non-domestic rating assessments are due to be revised and will take effect on 1 April 2010 – this revision will have a direct affect on the level of business rates you are liable to pay – are you prepared for the changes that this may bring?
Every five years the Valuation Office is required to revalue all non-domestic properties in order to re-align values with changes in the marketplace. For all commercial and other non-domestic properties, the revaluation will be based on values in the marketplace at 1 April 2008.
What is likely?
It is difficult to second guess the Valuation Office with any degree of accuracy, but the valuation date of 1 April 2008, coming before the major economic downturn, is giving many cause for concern. Our research suggests that we will see increases, which in some cases will be significant; leading to big increases in rates bills.
How can we assist?
When the new rateable values come into effect, firms will contact rate payers who will encourage businesses to appeal against the new revaluation regardless of whether or not an appeal would be either appropriate or valid. Any appeal can see rateable values increase as well as decrease and therefore detailed investigations and an intimate understanding of each particular property is required.
Our commercial experts have a track record of successful appeals against incorrect valuations and while this is due in no small part to professional expertise, there is also no substitute for thorough local knowledge when it comes to making the kind of evidence-based case on which the appeals are made.
Partner - Head of Commercial Division
Scott specialises in providing advice on agency and development matters to a wide variety of clients from private individuals and trusts through to property funds, institutions, companies and statutor...
Robert is based in the Oxford office. He undertakes a wide range of work, including rent reviews, lease renewals, valuations, rating and day-to-day portfolio asset management of property througho...
Colin Scragg is part of the firm's commercial team based in Bath have practised in Bath and Wiltshire since 1987 dealing with all aspects of commercial property matters to include property acquisition...