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New Business Rates on Commercial Properties

Posted: 17/07/17 by Robinson & Hall LLP

April this year saw the arrival of new business rates. So what does this mean?

Richard Sheppard, Commercial Property Surveyor at Robinson & Hall, Land and Property Professionals explains: “Well in simple terms business rates are a tax that commercial occupiers have to pay based on the rental value of their commercial property, which were last reviewed in 2010.

“Your rateable value is based on similar properties and their average rental values. It is worth noting that you only have to pay business rates if your rateable value is from £12,000 per annum, and if you pay £12,000 to £15,000 per annum you will benefit from small business rates relief. This is when your payment is ‘phased’ over a period of time.

“The local authority is cracking down on finding commercial properties that have slipped through the net. The majority of these ‘missing’ properties are likely to fall within the rural community. For example, many farms have diversified in more recent years and are now using both modern and old farm buildings for uses other than agricultural purposes.”

If a property owner disagrees with the rateable value set by the Government, they may appeal via the new business rates appeals system known as ‘check challenge appeal’:

  • Check - the first and arguable the most important part of the process is to check the information held by the Valuation office is correct and if not this needs correcting as a matter of importance.
  • Challenge - is the rentable figure which is used as the basis for your rates correct and if not this will need to be amended.
  • Appeal - and finally if you still feel your rating assessment is incorrect you can attend a rating tribunal at which point you can present your case of evidence to the Valuation office and an independent panel will make the decision. If you lose you will be charged a cost.

How can Robinson & Hall help you?

Collectively the commercial department has over 100 years’ property experience and we are able to offer help and advice in all commercial areas, no matter how large or small your premises or whether it is located in the centre of town or in the middle of a field! We are actively involved in helping a number of clients with their business rates.

Thinking about bringing your commercial property to the market?

Our wealth of experience and excellent offering ensures we achieve the best results. Our in-house marketing department help us maximise the coverage of your property – we advertise on major property portals such as Rightmove.

To find out how Robinson & Hall can help you or your business or to book a free market appraisal, please contact Richard on 01234 362933 or email: rds@robinsonandhall.co.uk

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