PAID TOO MUCH ON YOUR PRE-PANDEMIC BUSINESS RATES?
Before the recent temporary reprieve, business rates were a major cost for hoteliers and we know that appealing them is often the most effective way of ensuring that you're paying the right amount. That’s why we’ve teamed up with Powells Property to bring you a Rating Valuer with the expertise to support you through the often complex and time-consuming appeals process.
With a wealth of knowledge in the hospitality and leisure industry, Powells is currently saving customers an average of *15% on their pre-pandemic business rates. Furthermore, they always carry out a free rating appraisal before any appeal work, so they can give an honest and transparent assessment on the likelihood of it being successful.
Their fee arrangements are also extremely competitive, as many of their competitors charge between 25% and 50% of any savings achieved - with some also basing their fees on future savings as well as retrospective ones. However, Powells has agreed to a flat fee of only 20% for Beacon members, including:
Any refunds that are due
Payable savings up to and including the rating year when the appeal is finalised
This type of fee structure gives you the benefit of fully owning any future savings up to the end of the rating list.
Scroll down below to see some of Powells' key tips to appealing your business rates. Alternatively, click below to book a free rating appraisal.
*Percentage savings based on successful outcomes. Please be aware that some rates may be undervalued and savings will not be achievable.
YOUR QUESTIONS ANSWERED
If you are yet to challenge your current rating assessment, read below to see some of Powells' key recommendations. Want to know more or need additional advice? Simply click the Contact Us button the bottom of the page and we'll be back in touch to discuss your requirements.
Why you should defer applying for Material Change of Circumstance
It is not the right time to apply for Material Change of Circumstance, as it is not yet known what the situation will be as of April 2021 and if the government will extend the current business rate exemptions for a longer period. However, there should be much more clarity in the next 3-4 months so Powell's recommend deferring your application until then.
Why you should be appealing your 2017 rating NOW
Now is a great time to appeal your 2017 rating assessment because any saving achieved can be backdated to 1st April 2017, meaning a refund of 3 years of overpayments. Additionally, with the Covid health crisis, the VOA (Valuation Office Agency) is prioritising hospitality and leisure rating cases for discussions with rating surveyors to clear cases more quickly to support the industry.
The reasons for engaging with professionals on your appeal
The process of the appeal is highly intricate and it would also be beneficial to source a rating partner who specialises in the hospitality and leisure sector and fully understands the operation of your business and how this should reflect in the rating assessment.
What you should consider when sourcing professional support
We advise you to show caution to any companies who propose charging initial fees when taking on new work or who charge excessive fees. Sometimes these fees can be up to 35-50% of payable savings and be for the entire rating list, meaning they will also charge for future payable savings. Powell always offers a free review of the business rates position because their reputation is their shop window and they will never proceed with any work unless they feel they can successfully achieve payable savings on their client's behalf.