In our previous article, we referred to the many landlords, tenants and occupiers who saw a sharp rise in their rates as at 1 April 2017, which went against the general downturn in the property market in recent years.
One of the worst hit sectors is retail. In addition to Poundworld failing, in recent months we have also seen the demise of other high street names such as Maplin and the mainly out-of-town retailer Toys ‘R’ Us.
The head of Britain's biggest supermarket has blamed the collapse of some retailers partly on these operators’ business rates costs.
Dave Lewis, Tesco chief executive, said the charges that firms must pay on their buildings played a "large part" in sending some retailers to the wall.
The 2017 Revaluation saw some bills rise significantly, while others fell. Mr Lewis questioned whether raising business rates was resulting in an "uneven playing field" for some firms. Mr Lewis also told the BBC:
"Are we allowing it to stay competitive, or are we by stealth lowering corporation tax and increasing business rates to a place which is creating an uneven playing field and forcing people to think about how it is they avoid that cost and find other routes to the market?"
Tesco currently pay more than £700m a year in business rates; the biggest tax incurred by the company.
One of other the main prevailing arguments, is the need for an even playing field between online retailers and traditional retail stores, the former having no liability for substantial rates payments.
The full article can found at:
Whilst changes are afoot for the business rates system throughout the UK, they will continue have to be incurred by landlords, tenants and occupiers for the forseeble future for all types of commercial property, not just retail.
It is therefore imperative that all ratepayers minimise their rating laibility as much as possible to remain competitive.
If you have an appeal lodged for premises which have not been cited or discussed yet with the Assessor, we would be pleased to hear from you. Our advice and guidance could lead to significant savings and prove crucial in terms of cashflow.
Please do get in touch to see how we can help you via or contact our team at businessratesadvice.com