Top twenty winners and losers for rates refunds announced

Nick Wright MRICS, Director of ratesrecovery.com said;

“The results are very interesting and show that businesses in the South East have fared much better when it comes to persuading the Valuation Office to reduce their rates assessments and ultimately their rates bills. 80% of the top 20 regions for securing a reduction are located in the South East which will have resulted in substantial savings to many companies. The picture has been less rosy for companies in the North and more rural areas.”

Featuring strongly at the top of the league table for reductions in business rates are a number of London authorities such as Enfield, Hammersmith and Fulham as well as Thames Valley areas Reading and Slough.

The bottom 20 areas feature many northern towns as well as areas of Wales and rural locations such as Barnsley, Pembrokeshire, Powys and South Norfolk.

All businesses had their rates re-valued from April of this year and are able to submit new appeals seeking a reduction in their rates bills. 

Wright continued,

“This research shows how difficult the rates appeal process can be for some companies but also the potential for substantial savings.  All businesses should ensure that they check whether they need to appeal their new rates assessments as a matter of urgency”.

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0 thoughts on “Top twenty winners and losers for rates refunds announced

  1. Peter Chapman

    The success in relation to appeals depends on the accuracy of the rating list which differs widely throughout the country and the percentage reductions in fact also vary widely in the South East of England. In some areas the Valuation Office Agency responsible for compiling the 2005 ratilng list were very conservative in placing values on properties.

    It is important to consider whether to appeal against your new assessment following the revaluation earlier this year but the reality is that most occupiers of prime offices in central London will not see any benefit from a reduction in the rateable value this year due to transitional relief.