This must include business rates, too, says Commercial Property Advisors (CPA).
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.
In the current challenging market conditions for real estate, the successful leasing or selling of property requires competitive pricing. With prospective clients shopping around for the best terms, it is not helpful that the government allows the Valuation Office to continue disregarding the harsh market reality.
The government's desire to retain historic revenue from business rates often overrides fairness, as they believe the property market will always be profitable. Owners of vacant real estate must now pay closer attention to all factors affecting its sales appeal. Additionally, commercial rates constitute a significant portion of tax collected, putting pressure on property occupiers to manage this hefty expense.
At Commercial Property Advisors (CPA), we believe rateable values should be determined through detailed physical and statistical analysis. That's why we offer free, detailed surveys to our clients, whether they are landlords, tenants, or owner-occupiers. If our data suggest a formal challenge to the Valuation Office Agency is warranted, we provide this service free of charge as well.
Our transparent and competitive costs to clients stem solely from the savings we achieve. To receive an accurate and up-to-date assessment of your business rates, whether you're a prospective seller, tenant, or property owner, contact CPA for no-obligation advice and help. Taking this first step can lead to substantial savings for your business.
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