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Increase in Business Rates #

Posted by Graham Bullock on October 19, 2009, 11:03 am
Message modified by board administrator October 20, 2009, 1:37 pm

I have just received a letter from the Valuation Office telling me the Rateable Value of my business property is to increase by 46% as part of the five yearly re-valuation. It also explains about transitional relief but it is still going to mean around a 9% increase in payable business rates each year for the next 5 years where it will all start again with another increase.

Looking on the rating list it appears that a lot of hotels and B&B's have come down or remained static, talking to a couple of B&B owners it appears they had a form to fill in asking how their trade was doing and what their turnover was etc. Local pubs have also had their rates reduced. I thought you paid Income tax on profits and the Rates were based on property rental values but it appears some types of business are getting an helping hand.

Have any of you received your letters yet and did you think the increase fair?

Graham

Re: Increase in Business Rates

Posted by John kennard on October 19, 2009, 6:43 pm, in reply to "Increase in Business Rates"
John Kennard

If rental values drop as they have in our area here in the south east, also values of properties drop and they have done so significantly, then your rateable values also drop. I feel that you have room to appeal; do this yourself as there are too many sharks out there trying to rip you off to do this on your behalf.
John Kennard.

Re: Increase in Business Rates

Posted by Sean Connelly on October 20, 2009, 12:40 pm, in reply to "Re: Increase in Business Rates"
Sean Connelly

Hi Graham,

We have recently completed a form for the VO office about the property we rent, but I can't remember it asking about how business is performing its all about the building itself, the rent we pay, whats included in the rent, how often did the rent go up etc.

You can appeal yourself if you have the time but we have used other two other firms to do this for us. So long as you pick a reputable company and negotiate their fee so that it suits you, then that should be fine. We have had our rates reduced on three properties we rent/own, one of them twice!

Our lease is up next year so I think we will be employing a suitably qualified surveyor to do some research into rents to ensure we get a suitable reduction there also.

HTH

Sean

Re: Increase in Business Rates

Posted by Graham Bullock on October 20, 2009, 3:19 pm, in reply to "Re: Increase in Business Rates"
Graham Bullock

Thanks for your replies. Yes, I have appealed myself twice in the past. It's a bit of a ball ache having to do this every five years though.

It just appears that most of the overheads increase by around 10% each year, every year, but I find it difficult to increase my rates more than 2% or 3%

Graham

Re: Increase in Business Rates

Posted by Richard Endean on November 1, 2009, 11:51 pm, in reply to "Re: Increase in Business Rates"
Richard Endean

I appealed against our existing value in September 2008 - because we had demolished a building - and they have given us a case start date of March 2010! We have just received our new valuation which has gone up by over 100%. Most other businesses on our estate have found the same so we're all appealing. God only knows when they'll get around to that.

Just keep smiling

Richard

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