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Effective business rates management

Business rates are a mandatory property tax that adds a significant burden on businesses. So, paying what is right is vital to your business’s financial planning. Ensuring accurate management of your business rates liabilities can help you optimise your budgeting and forecasting strategies, providing a competitive edge in today’s rapidly changing economic environment.

 

From challenging the Rateable Value on a property to correcting property details or finding overlooked reliefs, our market-leading business rates advisors work effectively to ensure our clients are not overpaying their business rates.  We have the specialist sector expertise to understand the issues faced by different sectors and property types, identify opportunities for relief and reductions and manage the appeal process on your behalf.

 

Transforming Business Rates or Tinkering at the Margins?

A Critical Look at Government Reform

 

The UK Government’s recent paper, Transforming Business Rates, marks a shift from a complete overhaul to targeted reforms of the business rates system. Released alongside the 2024 Autumn Budget, it invites businesses to share their priorities for change while highlighting benefits like stable local government funding and efficient tax collection.

 

These reforms aim to support high streets, boost investment, and promote fairness through co-design. Our commentary explores the implications across sectors and offers insights for those looking to influence these changes. Read on to learn about potential impacts and lobbying opportunities.

Read the commentary

Prioritise reviewing your business rate liabilities

Business rates are a property tax and like all taxes, effective management requires proactive control and budgeting. We can help you to have complete confidence in the accuracy of the business rates you pay based on how you use your property. By acting now, you can ensure that your business rates are fair.

  • Budgeting and forecasting

    Alongside people and rent, business rates are likely one of your most considerable fixed expenses. With the current business environment, accurate budgeting for business rates liabilities and appropriate accruals are more crucial than ever.

  • Saving Money

    To achieve an accurate basis of valuation, you need to understand the valuation approach, think proactively about opportunities to challenge your Rateable Value and gain an understanding of the underlying evidence and appeal process. Several reliefs, grants and schemes specific to sectors and property types may also offer a source of savings.

  • Minimising risk

    While any business would want a lower Rateable Value (RV), an under-assessment could be corrected by the Valuation Officer or Assessor, and potentially backdated, resulting in a rate demand you haven’t anticipated. Ensuring this risk is identified will allow you to budget more accurately.

  • Ensuring compliance

    Fundamental changes proposed in England and Wales will materially impact the way businesses need to supply information. These are anticipated to be introduced at some point during the cycle of the 2023 Revaluation. It will be critical to ensure strict compliance to avoid fines.

When to check your business rates liabilities

From reconfiguration to refurbishment, relocation to expansion, your property undergoes changes throughout its lifecycle that can significantly impact your business rate liabilities. This is why it’s crucial to keep a close eye on your rates and ensure you’re not overpaying. Stay ahead of the game – make sure you check your business rates whenever your property undergoes a change.

Before occupation

From the point at which you become liable for the business rates on a property you can explore potential empty property exemptions and opportunities around phased occupation. If the property is new, or has been subject to redevelopment and/or fitout works, it may also be necessary to consider the implication of completion notices and effective date regulations.

During occupation

Any time that you make a change to your property or there is an external change that impacts the property, your business rates liability could change. Empty or part-occupied periods may present an opportunity to mitigate the rates liability. Exemptions may also be available during refurbishment or reconfiguration schemes midway through the occupation.

End of life

When you make a decision to leave a property, either at lease end or at disposal, you can look at mitigation to reflect any phased vacation of space or consider whether a challenge to delete may be appropriate.

Sectors we specialise in

Our business rate experts have focused knowledge across all property types and market trends in their sectors to manage and mitigate your business rates more effectively. With experience working across the various sectors throughout the UK, you can rely on us to manage your business rates proactively and achieve the best possible results. Learn more about our work in some of our key sectors. 

Aviation

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Energy & Renewables

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Fuels

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Healthcare

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Hotels

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Independent Schools

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Industrial & Logistics

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Leisure

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Minerals & Waste Management

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Offices

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Retail & Restaurants

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Universities

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Our business rates services

Whether you have a single property or a complex portfolio across different locations, our team of experts can help you with the subtleties of business rates and provide the guidance and support you need to make informed decisions. With our help, you can be confident that you are paying the correct amount and that your business rates are fully optimised to support your goals.

Business Rates Reviews and Appeals Budget Estimates and Accruals Reliefs and Exemptions Rates Payment Management Services Empty Rates Mitigation Historic Rates Audit Material Change of Circumstance (MCC) Business Rates Advocacy

UBRs, Discounts and Exemptions

Reviewed annually, Uniform Business Rate (UBR) multipliers are used to calculate your business rates liability. UBRs can be increased by inflation, which has happened for some property values for 2024/25. The UK governments also regularly review discounts and exemptions. The reliefs, grants and transitional schemes available can depend on the type, size and location of your property. Use our Business Rates Data Card to see detailed UBRs, reliefs and schemes for each country.

England Wales Scotland
RV below £51,000 RV £51,000 or more RV up to £51,000 RV £51,001 - £100,000 RV above £100,000
49.9p 54.6p 56.2p 49.8p 54.5p 55.9p
England Wales Scotland
RV below £51,000 RV £51,000 or more RV up to £51,000 RV £51,001 - £100,000 RV above £100,000
49.9p 54.6p 56.2p 49.8p 54.5p 55.9p

Business Rates Valuation and Appeal Deadlines

With new business rates bills in effect since 1 April 2023, businesses across England, Wales, Scotland, and Northern Ireland can now review and appeal their rate liabilities. As the different regions follow different timelines and requirements for business rates reviews and appeals, ensure you don’t miss out on the opportunity to review and correct your rates bills. For more detailed advice, please contact us.

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Business Rates data card Frequently Asked Questions about Business Rates Business Rates Resources

Why work with Gerald Eve?

Gerald Eve has a strong foundation in business rates expertise. Our track record includes delivering over £1.3 billion in savings for our clients since 2017. Additionally, we expertly manage rate payments, processing over £1 billion in liability annually. Our success is underpinned by our ability to easily navigate complex legislative procedures and strict timelines. We are committed to staying ahead of the ever-changing business rates review and appeal process to ensure our clients receive the maximum benefit possible.

 

We are sector specialists.

Our sector specialists work closely with and within Gerald Eve’s sector and service teams. 

We know each sector inside out – from rental values and specific property cases to market movements and industry trends.

We have the rental, trading and cost evidence to present a robust case for our clients.

We regularly lead specialist scheme negotiations.

We have long standing relationships with the Valuation Office Agency (VOA) and Scottish Assessors Association (SAA).

We are a trusted advisor.

We act in accordance with the Rating Consultancy Code of Practice and as individuals and/or a firm are members of the following professional bodies:

The Institute of Revenues, Rating and Valuation (IRRV)

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Royal Institution of Chartered Surveyors

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Rating Surveyors' Association

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Key Facts

£9.3bn

total Rateable Value handled

£1.3bn

client savings since 2017, £3.8 bn since 2010

25%

of the FTSE represented

£1bn

rate liability processed each year as UK's leading outsourced ratepayer

News and Insights

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Key Contacts

Simon Green

Head of Business Rates
Business Rates
London – West End

Alan Hampton

Partner
Business Rates
Birmingham

Helen Edwards

Partner
Business Rates
Cardiff

Graham Howarth

Partner
Business Rates
Glasgow

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