To most companies this looked as if it was set in the stone however a number of appeals recently heard at Valuation Tribunal have rejected the approach of the Valuation Office Agency (VOA) that set the value in the first place.
Despite the values being in place for over 5 years the Tribunals now say this figure is too high and should be a lot less. In doing so, the Tribunals have opened up the ability for all retailers to re-appeal their rates for the last 5 years and to claim a reduction where they have air conditioning.
Nick Wright, Chartered Surveyor and Director of www.ratesrecovery.com advises retailers to act quickly before it’s too late. He says ‘Businesses have nothing to lose by launching an appeal. Although the VOA is challenging the findings of the Tribunals businesses must protect themselves by ensuring they appeal before the deadline of the 30th September and citing the correct grounds. If they don’t then should the Valuation Office lose they will not be able to claim a refund.”
Whilst the outcome of the air conditioning case may be unclear at this stage, what is certain is the potential for havoc at the VOA if extra appeals burden their system.
Nick Wright, Director of www.ratesrecovery.com comments “Many businesses have already submitted appeals against their new rateable values from April of this year; these could be delayed as the VOA struggles to deal with the sudden influx of fresh appeals relating to air conditioning. In the current economic climate the last thing companies need is their rates appeals delayed for even longer particularly here they are clearly paying too much.”
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