Business rates are often one of your highest annual overheads. Every non-domestic property has a rateable value which can be appealed at any time between 1st April 2023 and 31st March 2026.
In most cases only one appeal is permitted so it is advisable to use an experienced rating surveyor. It is essential that a full appraisal and valuation are initially undertaken to establish whether or not an appeal is appropriate.
This appraisal is completely free of charge. A fee is payable only when the appeal process is complete and the client has received their refund/credit from the rating authority.
National Non Domestic Rates (NNDR) - often called Business Rates, was introduced on 1st April 1990. Business Rates is a form of taxation levied on the occupier of commercial premises. It is collected by the local authority on behalf of the government.
Rateable Value - Business Rates Appeals - Rating lists are compiled every five years - 1990, 1995, 2000, 2005, 2010 and so on - this is known as Revaluation.
Rights of Appeal - The ratepayer has a right to challenge an entry in the rating list.
Transitional Arrangements - The basic principle of non-domestic rates is that the amount payable per year is the Rateable Value multiplied by the National Non Domestic Rating Multiplier or Uniform Business Rate (UBR). However, rate liability is not always that simple. This is because of Transitional Arrangements.
Small Business Rate Relief - From 1st April 2005 a new scheme was introduced in England to benefit small businesses. Small businesses must register with their local authority and must only occupy one property. The property must have a rateable value of less than 15,000 (21,500 in Greater London)
