The tax has already cost Central and Local Government £50m over the past 12 months on their own vacant properties and many businesses have been damaged by empty property rates. Proposals are expected to include a three-year exemption from rates for new development to encourage regeneration and full rate relief for low-rateable-value properties, which are typically occupied by struggling smaller businesses. The new working group is also expected to press for a full impact assessment of empty rates on the property industry and wider economy.

If you are a retailer wouldn’t you jump at the opportunity of reducing your business rates liability from the start of a new rating list?

RatesRecovery are the pioneers of ‘prior agreement’ for major High Street Retailers.  This involves a cooperative approach with the Valuation Office, (who should be commended for their positive assistance).  In simplistic terms we have carried out an audit of new rateable values for over 2500 properties and met with representatives from the Valuation Office to discuss cases which we think are wrong. Where appropriate, the Valuation Office has agreed to make revisions. The net result for our clients is a reduction in their business rates liability of over £6,000,000.

Martin O’Neill a director at ratesrecovery commented “Six of the major High Street retailers to collapse in recent months rejected our scheme, preferring to revert to their existing agents who advised that it wasn’t a feasible option!  I wonder what their agents are saying to them now?

I can confirm that all of the High Street retailers we represented are still trading!”

The VOA is in disarray with their not so new telephone system.  Dial the switchboard number 03000 501501 and after being told that “your call is important to them” you are put on hold for  five minutes before speaking to a central switchboard person who can’t transfer your call or give you a direct line number to call someone else.  “All we can do is take a message for you and pass it on” is the response.  Hardly what Bob Hoskins had in mind.

In the last VOA annual report they state they have 4 core strategic objectives.  Two of them are to target and achieve customer trust and to drive quality and consistency through improved process. Sounds good, but why don’t they start with trying to answer the phones before they tackle the tricky stuff?

Ps: Actually I am old enough to remember Buzby as well…….yikes.

The high street has been left in a perilous position after being hit by the recent rise in business rates and a spring budget containing no reforms to the business rates system.

Regional towns and cities are experiencing the brunt of these damaging effects.  Consumer confidence is slipping, with many choosing to pay off credit cards and debts rather than spend on the high street meaning retailers are facing the toughest operating conditions ever faced.

The news that the retailer Game added its name to the already long list of UK retailers slipping into administration over the last few months shows just how badly hit the UK high street is.  Perhaps the government will now see sense and look towards reforming the business rates system to suit the harsh realities of today’s economic climate.

The government has accepted in the recent budget that tax cuts for business stimulate growth and employment so it is unclear why they are so reluctant to reduce the business rates burden for companies, particularly in light of the unprecedented rates increase next month.

Up until to 1 April 2008, landlords of empty commercial properties did not pay rates, or paid a reduced amount.  This relief was scrapped by the government piling a huge financial burden on landlords and occupiers.  Since then ratepayers have either struggled to meet huge empty rates bills or used inventive empty rates avoidance schemes to try and circumnavigate empty business rates charges.

All too often RatesRecovery identifies rates savings for businesses that have been missed by their retained rating agents. Unaware of their agents’ failure to investigate backdated overpayments, this can result in them losing out on potential refunds.

In the current economic client it is essential that businesses are made aware of money that is potentially due back to them and for those businesses to act in a positive way to recover any highlighted overpayments. As business rates specialists dealing exclusively with business rates appeals, RatesRecovery have the skill to explore every aspect of past and, current and future rates bills and generate significant rates savings for clients throughout the UK.

Martin O’Neill, a Director at Chartered Surveyors and business rates specialists RatesRecovery, advises everyone to have their new rates demand checked by experts. He comments, “It is not unusual for us to find errors in rates demands. It is advisable for businesses to check that their annual charge is calculated correctly”.

Local traders in the areas surrounding shopping centres, such as Westfield Stratford may be due a much needed business rates reduction to reflect the loss of trade. This would indeed be a welcome bonus to many as they struggle to stay afloat.

After the opening of Westfield’s centre in Shepherds Bush RatesRecovery were successful in obtaining business rates savings of up to 30%.

With the chancellors proposed record UBR multiplier increase due to come into effect in April, it is essential for your property to be appealed and looked at by our inspections team to ensure you are paying the correct rateable value.  On inspection, we do not just measure the premises but also look for the possibilities of claiming temporary rate reliefs which could provide you with a significant rates reduction in the short term.