Business Rates

Keygrove Chartered Surveyors have up to date knowledge and many years practical experience of handling business rates appeals. We understand business rates legislation and comply with the Rating Consultancy Code of Practice issued by The Royal Institution of Chartered Surveyors.

Your business rates bill, which may be a substantial part of your outgoings, is calculated by applying a national multiplier, known as the ‘uniform business rate’, to your property’s rateable value. A rateable value is an estimate made by the Valuation Officer, representing HM Revenue & Customs, of a property’s rental value at a particular date specified for each general rating revaluation. You may challenge the rateable value but the uniform business rate is set annually by central government. Following a revaluation, the government may provide for adjustments to rate liability by phasing increases and decreases, in rates payable. These transitional arrangements are governed by very complex statutory regulations and may affect your rate liability calculation.

A general revaluation of rating assessments is normally undertaken every five years. The Valuation Officer may alter your assessment at any time to keep it up to date and to reflect the results of appeals and will notify you of any alterations to your assessment, including their effective date. Challenges to individual rateable values, known as ‘proposals’, can usually only be made against the assessment which is in force at the time the proposal is made. If your property has been affected by a material change of circumstances, for example, a physical change to the property or its locality which affects its value, you may have a right of appeal. A proposal may also be made challenging an assessment alteration made by the Valuation Officer.

We cover the South Hampshire region and beyond.

Please click here for a case study of Business Rates