With Business rates forming a significant part of many businesses fixed costs, any opportunity to reduce this liability is welcome. There are several ways of potentially reducing business rates liability through an appeal. A property’s Rateable Value is based on an estimate of the rent at which the property itself would have let having regard to transactions in its surrounding area. Under the current list, rents are based on values at 1st April 2008. If evidence in the immediate locality suggests the assessment is incorrect, there is justification for an appeal. Other grounds for appeal include what is known as “material change in circumstances ”. These include alterations to the property, how it is used, or changes in the surrounding area such as new development/ redevelopment. Changes in access routes to the property or how other properties in the area are occupied e.g. vacant properties, might be relevant. Identifying these and other factors requires specialist knowledge and experience in this field.
For more information please contact Matt Kerrigan.