Savills, the expert in all matters relevant to commercial property, acknowledges that it is "very difficult for the Valuation Office Authority (VOA) to produce accurate rateable values."
This is critically important in 2021 when NEW rateable values are bound to produce winners, and disgruntled losers.
Savills forecasts increased rates for offices in London and the South East, and the buoyant logistics market. Perhaps, pressures may be eased for retailers.
However, the lack of resources suffered by the VOA, and continuing economic uncertainty, make business rates an area of continuing injustice, where the need to extract revenue for government overrides unequal burdens endured by individual businesses.
Commercial Property Advisors (CPA) recommends all firms to undergo a rates health check without delay, to establish a rates base more accurately reflective of current trading conditions and property and rent values.
CPA offers a consultative service without obligation, and its no win no fee terms not only relieve its clients of worries, but, in 80% of cases, lead to successful appeals, saving thousands in back-dated payments and favourable re-calculations for the future.
CPA welcome all calls for help and advice.
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