All commercial property in the UK with few exceptions attracts the payment of Business Rates – essentially a tax on occupation but in the case of empty properties a tax on none occupation as well.
Business Rates are payable by reference to a figure of rateable value. In most cases the amount payable is likely to amount to approaching 45% of the annual rent and as such a significant overhead.
The subject of Business Rates is complex and often misunderstood. It is important to fully understand your likely exposure prior to committing yourself to any property opportunity. For owners or occupiers already party to Business Rates there are ways in which to potentially reduce the exposure. A straight forward appeal against the Rateable Value attached to the property is often considered the only option but there are other ways in which to potentially reduce exposure.
We have a long history preparing appeals across West and North Yorkshire and a very good track record of success. We will not propose an appeal on your behalf unless we consider there to be a strong likelihood of success. We are also well acquainted with the complexity of the legislation that surrounds Business Rates and can advise on other matters to consider in an attempt to reduce exposure.