If you’re a small business and not taking advantage of business rates relief then it could be time to consult a commercial property management company.
Small businesses are eligible for small business rates relief if they occupy a single property and their rateable value is below a certain level. However, many businesses are not taking advantage of the scheme.
Business rates calculation can be a complex process, which could be putting off many businesses from reassessing their rates or claiming any discount they’re entitled to…
Seeking the services of a professional commercial property management company could be the answer as they can advise you whether you qualify for business rate relief – and even apply on your behalf. In addition, if you expand your business in the future and require multiple property outlets, commercial property management firms can oversee the entire process.
This can range from undertaking thorough surveys to minimise rates liability and ensure those set are in line with your neighbours.
Paul Giness, director of Manchester-based property surveyors and business rates specialists, The Beattie Partnership, said: “Business rates are one of the biggest outgoings for many businesses but many small firms are still paying over the odds when they could be benefitting from the Government’s business rates relief scheme.
“If your business has a multi-property portfolio and doesn’t qualify for the relief we can still help. Our surveyors can assess your commercial property to ensure your current rates are accurate and fair. We will even negotiate on your behalf to try to reduce them if potential savings are identified. In the current economic climate, this saving could be well received.”
Small business rates relief is allocated by local authorities, which will have an application process.
The system varies between England and Wales but you will be eligible for small business rates relief in England if your rateable value is below £18,000 (£25,000 in London). In cases where the rateable value is £6,000 or below, the small business rate multiplier is used and the bill will be reduced by 50%.
There are other circumstances in which businesses can benefit from business rate relief including when a property is empty. For more information, contact Paul Giness at www.bepart.co.uk