Business Rates Valuations
Our experts have an excellent record of helping businesses to appeal their business rates valuations and assessments. In 2017, the Government introduced the current business rates appeal system known as Check, Challenge, Appeal. This three-stage system can be complex and requires significant input from the owner/occupier or Agent from the outset of the process. Our business rates experts can advise you on the accuracy of the rateable value of your property and, if the business rates valuation is found to be excessive or incorrect, handle the Check, Challenge, Appeal process on your behalf.
Understanding ‘Check, Challenge, Appeal’
The first stage of the process is the check. This can serve to inform the VOA about any factual errors or changes within the boundaries of the property giving rise to a change in value, or any changes that could cause part of the property to become exempt from business rates. A check may also be used to split your business rates assessment into two or more assessments, and similarly to merge your property with others, or to inform the VOA about a material change in circumstances which should be taken into account in your valuation. This important and compulsory stage of the Check, Challenge, Appeal process can require research and the preparation of detailed supporting documents; our experts have the resources and experience to do this on your behalf.
If the factual details about your property are correct but the business rates valuation is deemed to be excessive, a check must still be submitted to confirm the property details. This will then be followed by the submission of a challenge which is essentially a revised valuation proposal supported by market evidence. If the outcome of a challenge is not satisfactory, there is the option to appeal the VOA’s decision to the Valuation Tribunal. Our business rates consultants have the knowledge and expertise to represent you at these final stages of the process.
Material Changes of Circumstance
Disruption to the quiet enjoyment of premises may need to be reflected in a change to your RV. If your business is affected by a change in external circumstances, such as changes to the accessibility of your property, ongoing roadworks, intrusive construction works, or changes to your surrounding area, we can submit a considered and evidence-backed proposal to the VOA on your behalf.
Business Rates Auditing
Using specialist rating software, we examine your historical business rates payments dating back to 1990 to identify any overpayments. Where we uncover historic billing errors, we recover those sums on your behalf and ensure a rebate is issued accordingly.
Recent Success
Penzance – property undergoing redevelopment works
Overview
During redevelopment or refurbishment works, it may be impossible to occupy your property. We have recently successfully removed our client’s property from the 2017 Rating List, reducing their liability to £0 and ensuring they were not paying rates unnecessarily.
Problem
A prominent office building in Penzance was being redeveloped internally to suit the needs of our client. The extent of the works rendered the property incapable of beneficial occupation due to a lack of services, substantial reconfiguration of internal walls and an absence of floorboarding across multiple parts of the property. The commencement of works had also been delayed due to restrictions imposed as a result of Covid, limitations in sourcing materials and a reduced workforce able to carry out the works. We were of the opinion our client should not be paying business rates whilst unable to occupy the property.
Solution
Initially we submitted a ‘Check’ document which was not accepted by the VOA. We followed this with a ‘Challenge’ document, which was submitted via the Government Gateway following the Check, Challenge, Appeal process, setting out extensive evidence to demonstrate that the property should be removed during the period of works which rendered the property incapable of beneficial occupation.
Result
The outcome was the successful removal of the property from the Rating List over this period from the commencement of works, resulting in a business rates rebate and an overall saving of circa £23,500 for our client.
Recent Success
Newquay Hotel
Overview
The valuation of hotels is a complex area of rating practice. The valuation is characterised by an interaction between the level of service provision, accommodation receipts and the proportion of total trade generated by rooms. The level of service provision must first be considered to establish the ‘class’ of a hotel; accommodation receipts are then analysed against total turnover. From this analysis, a percentage is applied to the Fair Maintainable Trade (FMT) to reach the property’s rateable value.
Checking the VOA have adopted the correct percentage and level of FMT can be a very worthwhile exercise, as illustrated by our recent success for a well-known and established hotel operator in Newquay, Cornwall.
Problem
The VOA had adopted an excessive level of FMT based on erroneous information regarding restaurant covers, parking spaces and bedroom numbers.
Solution
A check was submitted to the VOA resulting in a reduction in the FMT and the percentage applied to the FMT.
Result
The RV was subsequently reduced by £41,500 and backdated to the start of the 2017 Rating List. The reduction represented an overall saving of £58,000 for our client.
Any questions? Call us
Our experienced team is ready to assist with unparalleled regional advice
TRURO
Tel: 01872 245600
PLYMOUTH
Tel: 01752 261811
EXETER
Tel: 01392 203010
BRISTOL
Tel: 0117 428 6555
The Team for Business Rates Valuation
Case studies for Business Rates Valuation
Vickery Holman have successfully agreed a period of 3 months Empty Property Rates Relief for a large vacant retail unit in Penzance, resulting in a total of £7,300 in business rates savings over 3 months! Acting on behalf of a local investor, the prominent three storey retail unit in Penzance had recently been acquired as […]
Vickery Holman are delighted to announce the successful negotiation of an empty office building undergoing refurbishment from £162,000 Rateable Value (RV) to £0 RV, resulting in a total of £35,000 in business rates savings over the 5 month programme of works. Acting on behalf of PKF Francis Clark: Chartered Accountants and Business Advisers, Vickery Holman […]
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 […]
We have recently acted on behalf of clients throughout the region who’s premises have been affected by the “Mazars and Woolway” case. Here, it was ruled that rooms or floors of a building in multiple occupation must be assessed separately if there are shared areas, such as corridors. The new ruling had most impact on […]
Acting on behalf of the owner occupier in respect of a Business Rates appeal, Vickery Holman are pleased to confirm a £10,000 saving for our Client, over the 2017 rating list. The detached 1970’s built industrial unit is located on a popular and well known industrial estate on the outskirts of the town centre of […]
Some interesting updates in our business rates newsletter Click here for more information – Business Rates Newsletter Spring 2019
What changes to business rates are pending? Is there a justified call for changes to business rates? We have seen that retailers are benefiting from a rates reduction for the next 2 years. Alongside this, the Government have been asked to urgently assess business rates and in particular look at creating either; a sales tax, […]
