Rating Appeals
April 2010
Are you ready for the ratings appeals?
April 1st marks the start of the ratings appeals season and Desmond Hirsch, the Head of Commercial Services at Cambridge Consultant Surveyors Januarys, is urging all businesses to check their new rates to see if it’s worth going to appeal.
“By now, every business should know what its rates are going to be from April 1st and there are two very good reasons why firms should look closely at what they’re being asked to pay.
“Firstly, the new rates are based on rental values which were in force in April 2008. This was of course before the financial meltdown and as a result many premises will be worth considerably less today than they were two years ago.
“Does the proposed rate reflect the peak of the market or had there already been a fall in values by April 2008 so that there might be a case for a rate reduction?
“Secondly, this rate revaluation only takes place once every five years. Once it’s agreed, it can’t be changed until 2015. Accept an incorrect valuation now and it could be an extremely expensive mistake.
“Even if the figures look fine at first glance, it’s always worth taking a closer look as there may also be factual errors.
“If a company is unhappy with the charges, it needs to take professional advice now. Firms’ chances of succeeding in their appeals are greatly increased if they employ consultants who know how the system works. In some cases, consultants have managed to save clients 25% of their total bill.”