Managing your business rates liability

As a property owner or head lessee, achieving the minimum rateable value, and rates payable, for your properties is vital, whether vacant or occupied.

When the government abolished business rates relief on empty property, owners were hit as a consequence. These repercussions can have a considerable impact on the profitability of your commercial property portfolio, regardless of its size. Business rates mitigation is a viable method of reducing these rates and one for which we have an enviable track record in facilitating, legitimately. We can provide various other help and advice on commercial properties that are empty for long periods of time.

With 100% empty property relief only applying to properties with a 2023 rateable value of under £2,900, it is crucial that business owners are properly advised as to their rates liability and whether any cost savings can be made. We can help you manage your rates liability efficiently to ensure that your business rates bill is kept to the absolute minimum.

We will manage your business rates bills and conduct a historical rates audit

We will not only check that your current business rates bills are accurate and that the property values are fair, but we will also check previous years by carrying out a rates audit on your behalf to ensure that  you have not missed out on any business rates relief for which you were eligible, and that you have been charged correctly by the local authority. This even includes commercial property that you may no longer occupy or no longer own or rent.

Mitigation of rates on empty space

Business rates on vacant commercial property are a particular burden to many commercial property owners and, in most cases, full rates are payable after the statutory exemption period of 3 months, or 6 months for industrial property. Since the change in empty property rates in 2008, we have secured substantial savings for landlords, occupiers and developers through various strategies to reduce their empty rates liability. Each property is different and we have a range of creative solutions depending on the circumstances of the building.

The 2023 revaluation

6 years since the last valuation list was updated, the 2023 business rates revaluation will hopefully have brought the rateable value of your commercial property in line with market values. The new rating should fairly reflect the prevailing value of your property and not an inflated value, as has been the case with certain sectors such as retail. However, the rating assessment may not be accurate, whether that be the physical aspects of your building – such as size, use and amenity, or the value adopted.

If you are unsure as to the accuracy of your commercial property’s new rateable value, you can contest it. For this, you will need to go through the ‘Check, Challenge, Appeal.’ process, set out by the government. We are able to advise you on your current business rates situation and your eligibility for a reduction, as well as assisting you in making your ‘Check, Challenge, Appeal.’ claim.

Property owners need to act now

Property owners who act now can save money by using a business rates consultant to reduce business rates and obtain a business rates rebate. We will always have a solution to reduce your liability substantially, or even completely in some cases.

KWB provides impartial business rates advice with fees geared to savings for the client.