16 Aug 19 by Rebecca Cook
Vickery Holman are delighted to announce the successful re-negotiation of a car showroom business rates assessment from £197,000 Rateable Value (RV) to £75,000 RV, a total of £188,500 in business rates savings!
Acting on behalf of a well-known cornish car dealer, Vickery Holman have successfully negotiated a significant business rates reduction on their premises in west Cornwall. Through a thorough inspection of the property, Vickery Holman identified a large discrepancy in the floor area calculated by the Valuation Office Agency (VOA), an integral part of the valuation and rating assessment. Following a well evidenced ‘Check’ submission document and an onsite meeting with the VOA, the assessment was successfully reduced from £197,000 Rateable Value (RV) to £75,000 RV and back dated to the rating list entry date.
Rebecca Cook, Chartered Valuation and Rating Surveyor in the Truro office commented “we calculated a discrepancy of some 2,500 sq m of additional floor area and 15 additional car parking spaces, both of which are key elements of the rating assessment as a £ per sq m/per car parking space is applied to these to arrive at the valuation and overall rating assessment. Our floor area calculations were supported by architects scaled floor plans which helped to present a strong case to the VOA when negotiating a reduction in the assessment. The incorrect assessment was costing the owner occupier an extra £60,000 per year in over assessed business rates liability. The revised assessment has been back dated to the rating list entry date and a rebate issued to our client.”
Vickery Holman have a dedicated team of chartered surveyors who have the knowledge and expertise to help and advise on all areas of business rates consultancy. If you require any assistance with a business rates appeal, an empty commercial property, rates bill or general rating advice, please do not hesitate to contact a member of the business rates team.