Auditel Consultant:
Laurence Fitch and Ruth Dawe

Are you ready for your business rates to soar ?

11 Nov 2009 | Filed under: Industry Comment

On 1^st October 2009 the Valuation Office Agency (VOA) published their draft list of rateable values for business premises, which come into effect 1^st April 2010. Many companies will have noticed a large increase in their rateable value, with property consultancy GL Hearn estimating retailers will on average face increases of 13.3%.

London based companies are expected to see their bills rise by more than the national average, with Offices, Retail Outlets, Hotels, Restaurants and Leisure Organisation likely to be worst affected. Additionally in London, a supplementary business rate of £0.02p per £ of Rateable Value will be added to already increased bills to help finance the capital’s Crossrail.

All is not lost though and we are currently working with a number of clients to investigate ways of reducing these costs. If you think your business may be affected and would like to discuss in more detail please contact either Laurence Fitch (laurence.fitch@auditel.co.uk) or Ruth Dawe (ruth.dawe@auditel.co.uk) on 01727 865501