All commercial properties have been re-assessed for Business rates and new rates are payable from 1st April 2010. The rateable value of commercial properties is based upon the market rental value of the property as at 1st April 2008 and actual rates payable are then based upon a proportion of that rateable value.
The rates that you pay can only increase by a maximum of 5% (small premises) or 12.5% (large premises) per annum, but over the course of the next 5 years this could equate to a total increase of 25% to 62.5% dependant upon the level of your new rateable value.
Miller Commercial is active in the local market and well placed to appraise your property and provide guidance as to whether or not it is worthwhile making an appeal against your listing. An appeal can result in an increase as well as a decrease in the rateable value and it is therefore important that you receive good quality impartial advice in the first instance from surveyors who know the local market. If further action is required we are able to appeal on your behalf.
For an informal discussion please call us on 01872 247038
For an overview of our Professional services please click here.