So what are business rates and and how do they affect me you ask? Here is a Q&A:

  1. Are Business Rates important to me?
  2. Can the Business Rates be challenged and reduced?
  3. Does HM Revenue & Customs always get the Rateable Value correct?
  4. Is an appeal easy to lodge?

Are Business Rates important to me?
In a word, yes. It’s a tax on business occupiers fixed by the Government (HM Revenue & Customs) and collected by the Local Authority to pay for all their expenditure including education and services such as Police, Fire Brigade and Refuse collection.

Can the tax be challenged and reduced?
Yes. The basis of charge is the Rateable Value, which is reviewed every 5 years and can be challenged.
The annual amount by which the RV is multiplied to produce the rates bill is fixed by the Government and cannot be contested.

Does the Inland Revenue always get the RV correct?
No. The current figure is supposed to be the Rental Value at 1st April 2003
In many cases the Inland Revenue had to estimate this figure and may have over pitched their answer, resulting in an over charge to the occupier.

Is an appeal easy to lodge?
Yes. A rating advisor will probably charge on success so if there is no saving there will be NO FEE

Get an advisor to check your Rating Liability. It could result in a substantial saving.