As 1st April 2020 approaches commercial property occupiers up and down the country will be receiving their business rates bills for the new financial year.
With the increase in the Business Rates Multiplier set to kick in on this date, many occupiers will be experiencing increases in their business rates liability with no return.
The last few weeks have been tumultuous to say the least following the impacts of Covid-19 and as the country struggles to grapple with the knock on effects that the virus is having throughout all of the industry, most businesses are still expected to pay their Business Rates.
Whilst the Spring Budget and subsequent Chancellor announcements provided much needed relief to the retail, leisure and hospitality sector in the form of a rates holiday for 12 months, this does not address other sectors such as Industrial and Offices nor flaws with the current system, which could have led to occupiers being overcharged for the years between 1st April 2017 and 31st March 2020.
With one year remaining in the 2017 Rating List, the deadline to challenge the Rateable Value is fast approaching.
Now is the critical time for occupiers to seek professional and expert advice and potentially benefit from substantial savings and rebates in their business rates.
Roger Hannah are actively involved in undertaking Business Rates appeals on behalf of occupiers nationwide and have a high success rate in securing reductions in Rateable Value.
If you own or occupy a commercial property and feel you may be paying too much on your business rates, or unsure whether your rateable value is correct, please contact our specialist Business Rates team for a free initial consultation.