Market Insight

Business rates – getting your money’s worth

February 26, 2019

As business rates continue to be a source of concern and financial burden for businesses across the country, we take a look at how savings can be made by employing an investigative approach to business rate liabilities.

Given that business rates represent one of the largest business overheads, it’s important to ensure that you’re not overpaying and that where you have, this is something you are able to claw back.

However, it’s not necessarily an easy task or one which you have the resource to invest in doing yourself. 

Indeed, business rates are one of the most complex property taxes, so inevitably it can result in missed opportunities to make savings. 

What sorts of savings exist?

Business rate savings can be made on the back of legislative changes, billing errors, unclaimed credits and certification issues, as well as the application of business rate reliefs, or the clawing back of historic overpayments.

Why might overpayments have occurred?

There are many potential reasons for you to have overpaid your business rates. 

If you have moved out of your property recently and are therefore no longer liable for the rates pertaining to it, you may well find that you have continued to pay for a period of time.

This might be as a result of existing direct debits which have yet to be cancelled, or even just a single payment which happened to occur just after you moved out. 

How you recover what is owed?

Forensic auditing is a technique we employ to explore business rate savings opportunities which go beyond the normal business rates appeal route. 

Using a combination of auditing and surveying expertise, we identify historic rate account anomalies and technical angles which can lead to the recovery of money from charging authorities on your behalf. 

Whether your business is based in a retail unit, office or an industrial or warehouse facility, we have a proven track record in mitigating business rates for clients – both large and small. 

But don’t just take our word for it. Find out how we helped a London fashion house save over £2 million in business rates here. 

For more information about how we could help your business, or to apply for a forensic business rates audit, get in touch.