For the 2017 Revaluation, on behalf of The McMillan Bar & Chop House, we obtained a Rateable Value reduction of around 30% for the 2017 Revaluation. Through extensive negotiation with the Glasgow Assessor’s office and our in depth knowledge of the local licensed premises and restaurant market, we were able to demonstrate and prove that the Rateable Value (RV) which the rates bill is based on, should be reduced from £82,800 to £57,200.
Prior to 2017, the RV had been £54,500 so an increase in value to £82,800 would have seen the annual rates bill increase by some £15,000 a year or around £75,000 over the five year revaluation period to 2022. By appealing the proposed figure and negotiating a revised RV of £57,200, before any relief applied, this saved the client nearly £13,000 a year in rates payments, or £65,000 over five years. Not only will this minimise outgoings and improve cashflow, it will also have a positive impact on bottom line value of the business.