Welcome to the 2015 Winter Newsletter, giving you the latest news and views on Business Rates.
There's a plethora of business rates reliefs, exemptions, supplements and surcharges that apply to UK properties and its a constantly changing landscape. It's a full time job keeping up with what you can and can't claim, as well as what you need to and what is automatically applied.
If you would like to discuss your particular property and whether a relief may apply, please don't hesitate to contact us.
There's a plethora of business rates reliefs, exemptions, supplements and surcharges that apply to UK properties and its a constantly changing landscape. It's a full time job keeping up with what you can and can't claim, as well as what you need to and what is automatically applied.
If you would like to discuss your particular property and whether a relief may apply, please don't hesitate to contact us.
Business Rate devolution, robbing Peter to pay Paul?
The devolution of business rates controls to local councils was mentioned in the Chancellor's conference speech in October and officially announced in last week's Autumn Statement. The idea has been generally welcomed by many including the non-party political, independent and non-profit think tank the Adam Smith Institute who believe "it will deter excessive spending and stimulate competition between councils" (see full article here: http://www.adamsmith.org/blog/regulation-industry/why-osborne-should-be-applauded-for-his-business-rate-devolution-proposal/). Which is all very well but what difference does it actually mean to occupier's costs? Well not a lot in the whole scheme of things, as they believe that "business rates cuts could bring business into an area is a misconception: business rates cuts lead to rate rises in almost exact proportion." So occupiers should be mindful that more hard nosed Landlords may see savings made on business rates as an opportunity to increase their rents.
Bank House, Burlington Road
 | This Grade II Star Listed Serviced Office building in Bristol has high maintenance costs commonly associated with period property which, during empty periods of occupation, are felt more deeply. By proposing a change in configuration, these empty periods received 100% business rates relief, saving the business over 75% on their rates allowing them to address maintenance issues. If you occupy a listed building and have high maintenance costs, have you considered how rates relief might help you? |
Business Rates Appeals Delays
It has become apparent just how much the budget cuts are affecting the Valuation Office Agency's (VOA) ability to deal with appeals. In the Bristol area, the VOA has stated it is giving priority to those appeals which are either listed for Hearing or where the appellant is facing financial hardship. When pushed further on dealing with a March 2015 appeal on a large assessment in Bath, the VOA stated they might not be able to consider it until March 2017! Are these delays perhaps a sign of the times for non essential public services? If you haven't heard from us for a while and would like to discuss your particular case please don't hesitate to contact us. In the meantime, we will do our utmost to get your cases heard first.
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