Our property service lines

CUT Business Rates COSTS

The current economic climate means that many occupiers are having to be exceptionally mindful in controlling costs. Property is the second biggest cost for most occupiers and it is therefore key to minimise these costs wherever possible. With final 2005 rates bills landing on desks in the next few weeks, it is a timely reminder that the 2010 Revaluation is looming on the horizon and it is important for occupiers to be prepared.

The Valuation Office Agency is due to present the draft rating list to Central Government in early June and present indications suggest that valuations will increase significantly in many areas; particularly Central London & the South East; ultimately increasing costs at a time when most businesses are under financial pressure.

The 2010 Revaluation will increase rateable values by as much as 50% in some areas. This is due to high rental growth to April 2008 - businesses need to be ready to face this challenge urgently. Key questions businesses need to ask are as follows;

Is your business prepared for the increased cost?
Do you know what you may have to pay?
Have you budgeted for a rise in property costs?
Are you doing all you can to minimise increased cost?

What can ask do to help to minimise your costs in the 2005 and 2010 Revaluations?

Ensure your 2005 valuation is correctly assessed
Ensure temporary allowances and reliefs are applied
Prepare to appeal your 2010 Revaluation when
issued along with our other clients
Gather evidence NOW to ensure you do not pay
excessive costs