Business rates are a tax on the use, occupation and vacancy (if applicable) ownership of non-residential buildings across the UK.
The tax calculation is evidence based and subjective. A ratepayer’s liability is decided by the Valuation Officer (an agent of HMRC), it is not self-assessed and it is a matter of professional opinion.
There are opportunities to challenge rateable values (RVs). A reduction in a rating assessment could mean an annual saving of 50p in every pound. Over 5 years every £1 of RV reduction could save over £2.50 in rates payable. A reduction of £100,000 RV could amount to a saving of £250,000.
Business rates are governed by statute. Statute provides opportunities on the charging side (operated by local authorities) to seek out reliefs for short term vacancy, exemption, partial use and hardship relief. In some cases relief can extend to 100%, if you know where to look and how to apply.
Montagu Evans LLP are recognised leading experts in the provision of risk free rating advice, with the minimum delay. We are paid on obtaining results for our clients. We know that our clients want to minimize their tax outgoings within the confines of the law. We also know that our clients want to spend as little time as possible dealing with the bureaucracy of demands and the inevitable errors that arise as part of the rates process.
Our promise to clients comprises a simple set of guarantees:
- Our clients’ interests always come first. Service levels are client driven.
- We seek to maximize savings while acting within the legal framework for rating.
- We seek to minimize and exclude risk for our clients.
- Our approach is comprehensive and creative. No stone is left unturned in seeking to secure savings.
- We act professionally as Chartered Surveyors and members of the Royal Institution of Chartered Surveyors.