The 2010 Rating List is based on the VOA’s opinion of values prevailing at 1 April 2008.
This date coincides with the downturn in values that has continued as a result of the recession and the change in legislation surrounding charging rates on empty premises.
As active agents in the commercial property market across the South West, we continue to analyse evidence for all sectors of the market to enable us to advise clients as to whether appeals are likely to be successful.
Our Service
- Providing preliminary advice as to whether there is scope to mitigate rates liability including entitlement to reliefs.
- Submitting appeals and conducting negotiations through to settlement.
- Preparing for, and appearing at, Valuation Tribunals in the case of unresolved appeals.
- Reporting on savings in rates payable following settlement of appeal.
- Completing Request for Information forms.
Government announcements to date for the Uniform Business Rate (rate in £) and Transitional Arrangements (phasing of increases / decreases in amounts payable) are as set out below: -
Uniform Business Rate for 2011 to 2012
- Properties under £18,000 RV (£25,500 London) - 42.6p
- Properties over £18,000 RV (£25,500 London) - 43.3p
Transition
| Type | Phasing | 2010/11 | 2011/12 | 2012/13 | 2013/14 | 2014/15 |
|---|---|---|---|---|---|---|
| Under £18,000 RV | Upward | 5% | 7.5% | 10% | 15% | 15% |
| Over £18,000 RV | Upward | 12.5% | 17.5% | 20% | 25% | 25% |
| Under £18,000 RV | Downward | -20% | -30% | -35% | -55% | -55% |
| Over £18,000 RV | Downward | -4.6% | -6.7% | -7% | -13% | -13% |
Phasing in Scotland is likely to be the same, whereas there is no Transition Scheme in Wales.
Rate Relief
Various reliefs from full rate liability are available, including Discretionary part void relief. We have negotiated this on all kinds of property from the phased withdrawal of a large production facility from a town centre site, to a retail shop which was loosely split into two parts, one of which remained vacant.
In certain circumstances it may be possible to obtain relief on property which is not capable of being used for it’s original purpose.
Small Business Rate Relief
- 50% relief is available to businesses with an RV under £6,000, declining on a sliding scale to 0% at £12,000 RV.
- Businesses occupying more than one property are eligible for relief only if the main property has an RV under £12,000, all their other properties have RVs under £2,600, and the aggregate of all properties is under £18,000 RV (£25,500 in London). Relief will, however, only apply to the main property.
- Owners or tenants of unoccupied properties with an RV under £2,600 will be entitled to 100% relief.
Fees
Our fees are normally charged on a success related basis being a percentage of savings except in circumstances where a time charge may be required to provide ongoing advice.
We will provide a specific fee quotation following a preliminary appraisal of the property and analysis of any other circumstances affecting the rates bill.
Recent case examples
Plymouth Retail Warehouse - reduction in 2005 List RV from £375,000 to £252,500, and subsequent split in RV to benefit from relief, resulting in a saving to the client of £119,000 over 18 months liability period.
Falmouth Car park - reduction in 2005 list RV from £4,600 to £1,600 and 2010 list from £8,000 to £2,000.
Mid Cornwall Golf Club - preliminary case study involving detailed site inspection and research to advise viabilty of appeal. Subsequent advice to client not to pursue appeal. No fee charged.
Contact:
Plymouth – David Hart Phil Dickins Tel 01752 670700
Exeter – Mike Lloyd Tel 01392 202203
