Peter Foley is our resident guru here at CPA, and has been passionately following the shifting world of business rates for many years. With a keen political insight, Peter’s writing reveals how policy change is key to understanding your business rates further, and how this could translate into substantial savings. In his weekly column, Peter also outlines a desired path forward, with changes we’d like to see implemented for a fairer system on the nation's business rates.
The recent increase in business rates within the warehouse sector seems to assume that all warehouses in the UK have experienced revenue growth in line with the rapid expansion of online retailing driven by the pandemic.
However, this approach overlooks the inconvenient truth that many warehouse operators are facing the same challenges as the retail sector in general, including tight profit margins, rising costs, and increasing wage bills. Furthermore, UK warehouses have not received the same rate reliefs as high street retailers.
At Commercial Property Advisors (CPA), we believe in rectifying this unfair treatment. We are specialist business rates consultants aiming to provide our clients with a thorough physical survey of their warehouse premises, completely free of charge. This survey will help prepare a formal appeal to the Valuation Office Agency (VOA) against their business rates bills, including the excessive above-inflation increases.
Our appeals are meticulously conducted by RICS-regulated professionals and supported by the latest sophisticated statistical datasets. The outcome of these appeals offers the potential for lower business rates in the future and the possibility of receiving overpayments. It's not uncommon for our clients to receive six-figure sums.
Best of all, our services come at no cost to the client. CPA's fees are derived from a transparent commission structure, which is only payable in the event of a successful financial outcome.
With no burdensome tasks required from the client and no complications to worry about, now is the perfect time to address this significant business expense and introduce some realism to government taxation policies.
To navigate the complexities of business rates, especially considering recent changes, can be challenging. It's intriguing how the principles driving the latest rating revaluation can have such varied impacts on businesses. While some sectors have thrived, others, like high street retail and hospitality, have faced difficulties.
At the core, the government aims to maintain its revenue while adapting to the evolving business landscape. However, for those facing higher rates or struggling to meet new energy standards, there is a solution. Commercial Property Advisors (CPA) provides a meticulously researched approach led by our team of RICS-regulated surveyors.
Our history of successfully achieving substantial revaluations for businesses across the country speaks for itself. With CPA, there are no upfront costs—only a fair commission based on successful challenges. Your business rates matter, and we are here to help alleviate the burden. Contact CPA today for expert guidance and assistance.