Photo Caption: Directors – Jason Williams & Rhodri Poiner – Mallard Chartered Surveyors
Business rates are one expense that simply cannot be avoided, but whether you are just starting out or fully established, ensuring that you are paying the right amount is of the utmost importance.
Alongside their wide range of professional property services, leading chartered surveyor and estate agent Mallard Property Group delivers business rates valuation support to organisations of all sizes and niches throughout South Wales. But how are your business rates calculated, are you paying too much and, more importantly, what can you do about it?
The Rateable Value is calculated based upon the market rental value of commercial property as of the 1st April 2008. However, as we know this was prior to the financial crash leaving Rateable Values in today’s market appearing excessive.
This has resulted in many businesses caught up in an unjust position, consequently worsened by the fact that the 2015 revaluation has been delayed until 2017.
Mallard Chartered Surveyors believe that many businesses are paying over and above what is fair and reasonable, especially those examples where an adverse “Material Change of Circumstance” has taken place or whereby a property has fallen into a serious state of disrepair, and on occasions sitting empty as a result.
Ironically buildings that are empty are in theory still liable for rates, an example that led the developer behind the Oyster Wharf project in Mumbles to call on Mallard for assistance.
As Jason explains, “The inspiring waterfront development that is Oyster Wharf simply wouldn’t be complete without the refurbishment of the Tivoli building. Despite being empty during the development phase it still had an outstanding rates liability of circa £50,000. Our business rates valuation team managed an appeal on behalf of this particular client and the liability has now been waived with no further charges due until the building is ready for occupancy. The result of which was one very happy client!”
Whilst “Rating Cowboys” do exist and promise reductions for an upfront fee, which very often they simply cannot deliver, Mallard’s business rates valuation team work on the premise that if they fail to secure a reduction for you, no fees are charged.
“Our business rates department, which consists of a team of fully qualified and experienced chartered surveyors, can calculate your business rates and appeal where applicable.
“All appeals are prepared and delivered via The District Valuers Office, a central government agency – and if it transpires that your original assessment was incorrect we can negotiate a reduction on your behalf, and claim back any overpaid rates.” concluded Jason.