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Appeal Business Rates Now or Lose Out, Says FPB
Listed under: News
Published: Friday, March 05, 2010
One of the country's leading business support groups has warned independent retailers that they have less than a month to contest any business rates they think they have paid too much for over the last five years – something which could see them claim back thousands of pounds in unneccessary payments.
The FPB is urging smaller enterprises to look over their receipts for the past five years to see whether they have been charged too much for their business rates since the last revaluation in 2005. Any companies who believe their bills have been too high currently have until the 31st of March to contest their charges. Despite 160,000 small businesses in the UK already doing so, the FPB believes many more may be eligible for reductions without realising it.
Retailers can currently contest their bills on two grounds, either by proving they are paying more for their businesses than neighbouring properties – which they can do through the website http://www.voa.gov.uk – or by showing that there has been a change in their circumstances since 2005, which has had a detrimental effect on their trade, such as roads being closed off due to roadworks, or a sudden increase in the number of empty shops nearby.
Highlighting the urgency of making any concerns known, the FPB's business rates advisor, Andrew Bacon, says, “Many companies will see their bills soar in the coming months and years, but they do have a right to contest. Following the new rates revaluations, they can make one main appeal for the period April 2010 to March 2015.
“However, until 31 March this year they can also appeal against their old valuation if they disagree with it. This can be done free of charge, and is fairly straightforward. Once made, there is a discussion period, where the person making the appeal explains to the Valuation Office Agency (VOA) what they think is wrong. If no agreement can be reached, the appeal goes to tribunal, but that only happens in about one in every few hundred cases.”
Mr Bacon adds, “The burden of explaining the details of what is wrong with the valuation is on the person making the appeal. It is therefore important to understand clearly how your ratable value has been calculated and why it might be wrong before expressing your concern."
For more information, contact the Valuation Office Agency at http://www.voa.gov.uk
The FPB is urging smaller enterprises to look over their receipts for the past five years to see whether they have been charged too much for their business rates since the last revaluation in 2005. Any companies who believe their bills have been too high currently have until the 31st of March to contest their charges. Despite 160,000 small businesses in the UK already doing so, the FPB believes many more may be eligible for reductions without realising it.
Retailers can currently contest their bills on two grounds, either by proving they are paying more for their businesses than neighbouring properties – which they can do through the website http://www.voa.gov.uk – or by showing that there has been a change in their circumstances since 2005, which has had a detrimental effect on their trade, such as roads being closed off due to roadworks, or a sudden increase in the number of empty shops nearby.
Highlighting the urgency of making any concerns known, the FPB's business rates advisor, Andrew Bacon, says, “Many companies will see their bills soar in the coming months and years, but they do have a right to contest. Following the new rates revaluations, they can make one main appeal for the period April 2010 to March 2015.
“However, until 31 March this year they can also appeal against their old valuation if they disagree with it. This can be done free of charge, and is fairly straightforward. Once made, there is a discussion period, where the person making the appeal explains to the Valuation Office Agency (VOA) what they think is wrong. If no agreement can be reached, the appeal goes to tribunal, but that only happens in about one in every few hundred cases.”
Mr Bacon adds, “The burden of explaining the details of what is wrong with the valuation is on the person making the appeal. It is therefore important to understand clearly how your ratable value has been calculated and why it might be wrong before expressing your concern."
For more information, contact the Valuation Office Agency at http://www.voa.gov.uk
