Managing your business rates liability

Click to see our guide to the 2017 rates revaluation

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 considerable impact on the profitability of your 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 this and, from 1 April 2011, 100% empty property relief only applying to properties with a 2010 rateable value of under £2,600, 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 your rates bill is kept to the absolute minimum.

We will manage your rates bills and conduct an historical rates audit

We will not only check that your current 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 rates relief for which you were eligible and that you have been charged correctly by the local authority. This even includes property you may no longer occupy or no longer own or rent.

Mitigation of rates of empty space

Business rates on empty 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 upcoming revaluation

It will have been 7 years since the last valuation list was updated and hopefully the revaluation will bring the rateable value of properties back into line with market values. The new rating should also fairly reflect the prevailing value of your property and not an inflated value, as is the case currently with many commercial buildings, particularly those outside of central London.

Unless your specific situation is independently, professionally reviewed, both of these things are far from guaranteed. We can advise you on your potential 2017 rateable value, and we give this advice without obligation.

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.  Until you make a saving, this is a free service and our fees are a percentage of the savings you make.

Want to know more?

Contact Martin Cook

0121 212 5993