LOTTO TICKETS ARRIVE - NOT GOOD NEWS!
Got one of these recently?
If not you soon will have... and obviously its a different kind of lotto!
The Valuation Office is now preparing to increase the business rates assessments on your property. To do so it needs to collect-in as many lease details as it can, because the rents paid under commercial tenancies are what rateable value is directly based on. This value is multiplied by the % rate in the £, to calculate the bill you have to pay on each property you occupy.
The outcome is a bit of a lottery - sadly with the opposite effect to that of a winning lottery ticket! In April 2017, you may well find that you are paying a lot more tax on your operational premises . The Treasury gets the big prizes in this lottery.
When you get one of these "forms of return" you may like to take our advice on what information you should give back to the VO. This could make a difference. Rating Valuations are notoriously difficult to get right and many are excessive and need to be appealed, as we have been demonstrating for many years and to great effect.
Secondly, you could instruct us to handle an appeal against the new rateable value when it comes in, to ensure your resultant new bill is as low as possible. Whilst we cannot guarantee that we would make you savings, we can guarantee to give you the smartest and most cost effective advice on cutting this punitive overhead.
