Business rates have long been a contentious issue among commercial landlords, especially during periods when property values have fallen but business rates have steadily increased.
Of course the bill payable is based on the rateable value of your premises, which is determined by the Valuation Office Agency (VOA).
These values are usually reviewed every five years and take into account the size of the property and how it is used.
If you believe your premises have been incorrectly valued you can request that a ‘check and challenge’ review is carried out, and from 1 June 2018 the VOA has announced that they will accept group challenges.
The group review enables you and the owners or occupiers of similar properties in your area to collaborate, providing evidence and information supporting your argument that your valuations are wrong.
A group pre-challenge review (GPCR) may be requested by an appointed agent, owner or occupier of properties that form the group with all participants signing up to the terms of the GPCR.
A single point of contact must be appointed who should then complete the VOA group pre-challenge review form.
The VOA is inviting feedback on this new approach to assess how the process is working. Comments should be made to email@example.com
For legal advice on any commercial property matter, do get in touch with our team.