What's all this about appealing? Why should I worry?
National Non-Domestic Rates raise around £13.2 billion a year for Central
Government and are usually a third of the tax bill for a small business.
Your own individual liability is imposed centrally without you having much
say. The best way to have a say is to appeal.
History has shown that many Rateable Values are set too high.
The Government had to value all 1.76m commercial properties throughout
the country in a short timeframe with limited resources.
Consequently the Rateable Value on a property effectively represents
an approximate best estimate, so there is a good chance that it
will be too high.
A reduction in Rateable Value should lead to a reduction in
rates liability.
Is it worth appealing?
A recent independent survey by Capital Economics for the RICS estimated
British business overpays £300 million in business rates. So the general
answer is yes, subject to your individual
circumstances. You should not assume there will automatically be a
reduction, but there is often room for discussion. Even if it turns out
there is no room to reduce your assessment, at least you will have checked
your liability thoroughly. In the rare case where you are under-assessed
there is often time to withdraw.
How much could I save?
Savings vary from case to case, depending on how different your
property is from the Valuations Office opinion. Savngs of 15%+
are common, and occasionally much higher savings can be achieved - for
example:
A Client in Harlow occupy a Workshop was being charged for Warehouse
next door.
Initial Rateable Value: £42,000
R. Value after Appeal: £6,500 - back dated for 3 years
Refund: £43,000 (equivalent to 15 years rates at the new reduced rate)
This was an exceptional case, but is certainly not unique.
How Do I Appeal?
Very simply. Complete this form and fax it to us on 0870 134
1377. Once we have received your instruction we will confirm your basic property details with you and submit your appeal to the relevant
Valuation Office.
To see what we do next, and our terms of business, please
click here
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