2017 Business Rates Figures Released – You may well be Paying Too Much

Dear Members,
CLICK HERE before 30th October 2016 to see if you are paying too much for your business rates for FREE

We have now seen the Data for Welwyn and Hatfield. A 5% increase over all but the increase is falling predominantly upon smaller busineeses with many larger businesses getting a reduction. Why? Because increased of  189% (Yes that is a real number) on small businesses in Hatfield Market Place takes them out of small business Rate relief. This is straight forward tax on innovation and small businesses.

 

Business Rates are important. You are currently paying your business rates based on a rateable value set in April 2007 and based on the rental value of your property in April 2005. ( They skipped the 2010 Revaluation because rents collapsed in 2008)

You are about to receive a new rateable value as part of the 2017 revaluation and it is to be based on the rental value of your property at April 2015.

Rents in April 2005 were agreed at the peak of the last boom but since then rents have fallen by as much as 60% outside London.

So some areas should expect to receive a reduction of 60% or more in business rates next year.

Could it be you?

To find out………

CLICK HERE

Our EXPERT WITNESS for Rates is Andrew Bacon. He thinks that businesses in the South East will continue to receive excessively high rates demands. You can find out what you are entitled to by completing the Form.

Andrew Says

 

“The 2017 Business Revaluation will give businesses and groups of business the opportunity to reduce their business rates to 0 from April 2017 onwards.

The Government have announced that a business with a 2017 Rateable Value of less than £12,000 will get 100% small business rate relief.

So, for example, a parade of 10 shops where each have a £15000 rateable value will pay about £7,500 a year rates each for 5 years or £37,500 each.

The whole parade, then, would pay £375,000 of 10 years.

But if all of those rateable values could be reduced to £12,000, they pay no rates at all for 5 years.

That is then a saving of £375,000 that those businesses can put towards developing their businesses.

If many 2017 Rateable Values are too high, and reductions are achieved, that is also a massive loss to the Exchequer.

Perhaps, then, it is just a coinicidence that the Government are bringing in appeal rules to make it more difficult for the businesses to get reductions.

Those rules prey on the fact most businesses act alone or employ Agents that have contacted on the phone, and can’t properly pursue the appeal.

Businesses that cooperate and employ specialists will have the best chance.

But the first test is whether or not the rateable value is right and if you complete the form at this link you can CLICK HERE to find out free of charge.

 

Andrew is a Chartered Surveyor who primarily works for tenants on business rates matters. He has won cases at Valuation Tribunal and Lands Tribunal including a test case for the barristers of the Inns of Court.

 

 

 

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