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The Rateable Value of a commercial property is the basis
on which Business Rates are calculated.
It is supposed to represent the rental value of the property as at 1
April 2003 – as determined by the Valuation Office. However, in many cases, there is scope to appeal against
the figure and every business should be advised to consider whether or not
its Rateable Value(s) are correct. There are set procedures for submitting appeals and the
negotiation process should be handled by an experienced professional who
knows both the statutory framework for dealing with appeals and the local
marketplace. The Valuation Office
employs experienced chartered surveyors to deal with negotiation of appeals
often involving complicated valuation methodology in respect of plant and
machinery, quantum allowances, determining whether two properties can form
one hereditament and so on. Submitting appeals cost nothing and fees are based on a
percentage of the saving gained in one year (most reductions in Rateable
Value will result in savings over the 5 year period of the Rating List – 2005
to 2010). Please contact for a free
consultation. |
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© stuarthogg 2005