Business rates to rocket

Businesses are set to face the biggest jump in rates for over 20 years as the Government uses September’s 5.6% increase in retail price inflation to set next April’s rate rise. This is on top of a 4.6% rise last April.

If the Government decides to set the rise as part of November’s local government finance settlement it will mean the Uniform Business Rate for properties in England would rocket from 43.3p to 45.7p per £1 of rateable value. Similar increases would be faced by businesses in Scotland and Wales. London firms with properties with a rateable value of over £50,000 will face rates nearing 50p in the £1 for the first time as a result of the additional 2p rate levied to help pay for Crossrail. Additionally some 170,000 businesses who are already facing rising bills following the rating revaluation in 2010, are likely to now see their rates shoot up by 26.7%.

A spokesman for the Department for Communities and Local Government said: 'We need to balance any further support for business against the tough decisions needed to reduce the deficit.'

More than ever business rates will be a significant drain on the resources of independent retailers, and bira is aware of the pressures members are currently experiencing.

“Business rates are one of the highest overheads for a small business. At a time when they are struggling it will be another kick in the teeth next year when most businesses will hope things will be improving and their overheads are getting under control” - Alan Hawkins, CEO, bira

In these circumstances, businesses need the support of experienced professionals, and the bira rates appeal service allows members access to just that. . Working closely with DTZ, one of the country’s leading firms of specialist rating surveyors, bira offers a no-win, no-fee rating appeal service. Through this service, bira helps members by instructing DTZ to:

• Appraise a member’s rating assessment and advise about an appeal
• Where necessary, lodge an appeal
• Survey the property
• Handle all correspondence with the statutory authorities
• Negotiate on the member’s behalf
• Advise on all rating matters, including on small business rate relief

Unlike many other appeal services, there are no upfront fees and all fees for the service are calculated as a percentage of the saving achieved. If no saving is identified, there is no fee to pay. There really is nothing to lose. Members have achieved significant savings through using the bira rates appeal service and some have secured reductions of over £20,000.

If you are interested in finding out more about the bira rates appeal service, please contact the bira information office by calling 0121 446 6688 or by emailing information@bira.co.uk