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 dynamic landscape of the hospitality, retail, and leisure sectors, high rates bills pose a considerable threat to growth and sustainability. Commercial Property Advisors (CPA), a leading authority in the field, urges multi-site operators to rigorously question these daunting rates, emphasising that high rates do not necessarily signify high returns.
As the old saying goes, "All that glitters isn't gold," a statement that rings particularly true for businesses within the retail, leisure, and hospitality industries. These sectors have found themselves in an unusual position - partially benefiting from the Chancellor's 75% rates relief, yet simultaneously grappling with the limitations of the scheme. The £110,000 cap per business, while a lifeline for small entrepreneurs, offers minimal assistance to operators running more than one site.
Imagine, for a moment, you’re juggling multiple sites, each with its own set of challenges. Even after taking into account the revaluation, your rateable values remain on the higher side. This is where Commercial Property Advisors (CPA) steps in. They offer free, detailed advice and assistance for businesses who find themselves caught in this precarious situation.
Upon your agreement, CPA will carry out a meticulous surveyor-based assessment. If the outcome of this assessment gives you reason to formally challenge the Valuation Office Agency (VOA), rest assured CPA will shoulder the burden of all associated paperwork. They operate on a transparent 'no win, no fee' basis, where the fee is agreed upon in advance with the client, ensuring there are no unpleasant surprises or hidden charges.
Delving deeper into your business, CPA offers the services of their Personal Advisors. They are ready to lend an ear, providing free advice and assistance tailored to your specific situation. A partnership with CPA can empower you to take control of your high rates, effectively turning a potential obstacle into an opportunity for growth and stability. So why wait? Contact one of CPA's Personal Advisors today to start the journey towards a more prosperous future.