For landlords and tenants, our business rates services cover all aspects of rating, from reviewing and challenging rateable values, managing rates payments and offering advice on vacant space or space that is undergoing works.
We cover a wide range of sectors including industrial, office and retail premises as well as properties that are not conventionally valued. Our rating team has a complete understanding of all aspects of the rating process as well as extensive experience working with business rates legislation and local authorities, which has resulted in considerable savings for our clients.
We not only look at the accuracy of rateable values, but we also offer advice on the many reliefs and exemptions contained within the business rates legislation that only local authorities have the power to award. Furthermore, we can scrutinise your current and historical rating liability to ensure that you have not been overcharged and claim back any refunds due.
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Q. How is my rateable value calculated?
A. Assessors calculate a property’s rateable value based on the annual rent it could achieve on the open market. They apply certain assumptions using an antecedent valuation date. For the 2023 Rating List, this date is 1 April 2021.
Q. How are my business rates calculated?
A. Your business rates are calculated by multiplying your property’s rateable value by the Uniform Business Rate (UBR), also known as the multiplier. Central Government sets the multiplier each year. For 2023/24, it is £0.512, meaning you pay 51.2 pence in the pound on your property’s rateable value.
Q. How can I appeal my rateable value?
A. The Valuation Office Agency (VOA) uses a three-stage process called Check, Challenge, Appeal.
At the Check stage, we can correct any factual information the VOA holds incorrectly. For example, the property size in the rating list may be too large, or a property split or merger may have resulted in an inaccurate rateable value.
At the Challenge stage, we can formally dispute the accuracy of the rateable value. We use our expertise to negotiate with the Valuation Officer and seek a reduction where appropriate.
If we cannot reach an agreement, we can move to the Appeal stage. We can then represent you before the Valuation Tribunal and present your case on your behalf.
The Business Rates team at Innes England comprises highly skilled professionals, each bringing a wealth of experience and expertise in commercial property. Renowned for their market insights and extensive network, which they leverage to provide the best outcomes for our clients. Please get in touch with them to discuss your needs:
DIRECTOR | PROFESSIONAL SERVICES
DIRECTOR | PROFESSIONAL SERVICES | HEAD OF BIRMINGHAM OFFICE
ASSOCIATE DIRECTOR | PROFESSIONAL SERVICES
Explore our case studies to see how Innes England’s expertise has successfully guided clients across various sectors in the property market.
The Challenge: The client instructed Innes England to market and dispose of their property at Merlin Way, Nottingham. The objective was to secure a timely sale while maximising value and achieving the best possible outcome in the market.
The Challenge: The owners of Stoughton Grange Rural Centre sought to secure a tenant for the former farm shop unit and further strengthen the estate’s growing mix of retail, leisure and hospitality occupiers. The objective was to identify a business that would complement the existing offering, while enhancing the site’s appeal as a destination for visitors from across the region.