We have a considerable amount of expertise in this sector. Successes achieved in reducing the Business Rates payable by clients in the past is demonstrable; in one year over £1 Million Pounds of “Rates Payable” was saved for one client alone.

There are many factors that can affect a rateable value. Identifying material changes to, or disabilities of, a property, as well as challenging the basis of the valuation carried out by the Valuation Office, are just a few ways of reducing a valuation. Once satisfied that the proposed rateable value is realistic it is only then Gillespie & Co will advise against lodging an appeal. If, however, it is believed there is an error or that it is not in our client’s interest to settle, we do not hesitate in having the matter determined at a Valuation Tribunal.

This is an area where many businesses overlook an opportunity to reduce overheads and are continually surprised how many companies fall into the “transitional relief” trap. There are many cases where, all too often, companies believe that they have a low rateable value due to the transitional relief credit that they receive from the rating office. It is our experience this is not the case, and more often than not, a successful appeal, whilst potentially removing the abilities for a claimant to obtain transitional relief, will in fact reduce their rateable expenditure over a five year period.

All non-domestic properties – mostly businesses – have a rateable value. This figure is based on a professional assessment of the annual rent of a property if it was available to let on the open market at a fixed valuation date. The new rating lists that came into effect on 1 April 2005 are based on a valuation date of 1 April 2003 - all properties are valued from the same date to ensure that they are assessed on a level basis. The VOA gathers as much evidence as possible about actual rents paid for properties in order to determine appropriate rental values.

The rateable value of your property is not the amount you pay in business rates, but it is the basis for the calculation of your business rates bill. Your local authority will calculate this bill by multiplying your rateable value by a factor set by central government each year. This is known as the multiplier, or Uniform Business Rate (UBR). Any rate relief or other adjustment to which you are entitled will then be applied by the local authority.

Only the local authority can calculate your rates liability and this is normally sent to you sometime between February and April.