21 Jul 21 by Amy Durkin
The business rates team at Vickery Holman are dealing with a whole array of instructions at the moment, mainly for tenant clients. Current jobs include splitting assessments, merging assessments, re-allocating car parking spaces and submitting floor area change requests. Expanding and consolidating are things that happen within all businesses at one time or another, so it is important for your business rates assessment to accurately reflect your property.
Changes impact business rates
Some other points to consider:
- Merging two or more assessments that are contiguous can reduce the overall Rateable Value as the rate per square metre often reduces as the assessment gets larger.
- Splitting two assessments where the occupiers are different companies and offer different services can be an effective way of securing small business rates relief, which could mean a 100% rates discount.
- Car parking can be merged with a property dependant on its position, this can reduce your rates liability, both if you are in receipt of small business rates relief or not, dependant of the property’s rateable value.
Please get in touch with us if you have any queries on business rates or reliefs. You can read more about our business rates services here.