According to business rates specialist Francis Tomlinson, a chartered surveyor with Aitchison Raffety in Hitchin, many business rates were increased substantially in April 2010, at a time when many businesses could least afford it. “This came as quite a shock to some small retailers and in some cases this can simply wipe out their profits” he said.
Tomlinson has successfully challenged the Valuation Office Agency on behalf of many clients but he does point out that there must be good grounds for such a challenge. “At Aitchison Raffety we undertake detailed research before accepting instructions to appeal a rateable value in order to ensure a strong likelihood of a successful outcome.”
A recent example of a successful challenge was on behalf of Fish ‘n’ Chick ‘n’ Limited which operates a nationwide chain of 32 fish and chip shops across south-east England, from Great Yarmouth to Brighton. In this case the appeal was for its Baldock High Street Shop (formerly Taylors), where the new rateable value was set at £28,500, up from £16,000 in the 2005 valuation list. The appeal was ultimately the subject of a formal hearing by the Valuation Tribunal in Hatfield in June, at which Francis Tomlinson presented the case for a substantial reduction in rateable value. As a result, the Tribunal has now revised the rateable value from £28,500 to £19,650, which will result in a considerable annual cost saving for Fish ‘n’ Chick’n throughout the period 2010-2015.
Aitchison Raffety can advise on all aspects of commercial property. For specific advice on rating call the National Rating Office on 0161 787 9220 or visit the web at www.argroup.co.uk.
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