Check Your Premises And See If Council have OverRated It.
How to make an appeal on your business rates:
In the UK, all non-domestic property has to be assessed for business rates. This assessment is a reflection of the extent of occupation, nature of the property, the rateable value, and the date this assessment took place. Each of the properties in a rating is called a hereditament and assessments will be included in the rating lists. The job of maintaining the rating lists falls under the Valuation Office Agency, which is an agency of the HM Revenues and Customs. The amount you have to pay is calculated and then collected by the local council.
Will you Be charged for Challenging Your Rates?
People have a misconception that they will have to pay the VOA a fee to challenge the rates. Currently, the VOA does not charge a fee for lodging a proposal with the VOA or proceeding to the Valuation Tribunal. As part of the Check, Challenge, and Appeal process, a revaluation fee is only charged once you move to the Valuation Tribunal. At the check and challenge stage, there is no fee.
How Can You Reduce the Business Rate Liabilities?
There are many options to reduce the liability whether it is through the appeal because the square meters are wrong or your RV is bigger than the current rate. You can also utilise empty rate challenge, or appeal due to local changes on your locality. Additionally, splitting, merging, deleting assessments, and delaying new rating assessments all become liable for business rates.
Should You Always Appeal?
No, the VOA might increase the assessment if they think that it is too low and may even fine you for giving false information carelessly or recklessly. For instance, if the property was altered and the VOA did not know of the changes or the rent is bigger than your RV, you should consider the merits of going through the check, challenge, and appeal process.
Are There Deadlines in Place?
Yes, deadlines are always in place. However, it usually depends on which stage the legislation is. In most cases, it is best to conduct the appeal as soon as you feel dissatisfied with what you have to pay. Timing is important if you want to get a chance at a lower rate. If you feel that you have sufficient grounds, do not delay your appeal. By checking various factors, it will help you decide if you have a viable appeal.
Appealing the Value
For your appeal to succeed, it will depend on various factors. These factors include:
- A wrong evaluation
- Being valued on incorrect areas
- Property being incorrectly split into more than a single listing or combined with others into one listing.
- A change to the area or property, which should appear in the rateable value
- A reference scheme number that does not match the age or location of the premises
- A material change to the property, which can include:
- A new development in your area
- A new road or change to access route
- New competitors
- You can only appeal on each ground once.
- Managing accounts
- Auditing and Compliance
- Challenges, appeals, and valuations
- Property rates for vacant property
What happens if you cannot agree with the VOA?
Your case goes to the Valuation Tribunal, who has the final say on the issue.
How Can Over Rated IT Help You?
If you need to challenge your assessment, get in touch with Overrated IT. The experts can help you sort out the issue in good time.
We have a leading specialist team in this area, which offers full rates management services that ensure the costly overhead is kept at the minimum.
The business rates experts at Overrated IT are experts in their fields so you can rest assured that you are getting quality for the services you are offered. If the rates deserve to come down, you can be assured that they will get it lowered.