In previous articles we have discussed Small Business Bonus Scheme (SBBS) Relief at length whereby a Rateable Value (RV) of £15,000 or below can mean occupiers are eligible for 100% rates relief.
As a result of 2017 Revaluation appeals we have agreed in recent weeks, the three clients listed below are now no longer liable for payment of business rates
Shop - Helensburgh
Prior to our appeal, this town centre shop property had a RV of £18,600 and annual rates bill of around £9,000. Following extensive negotiations with the Assessor, we managed to get the RV reduced to £15,000. As a result, the client is eligible for 100% rates relief and is now completely rates free, which equates to a saving of over £40,000 between 2017 and 2022
Funeral Parlour – Paisley
Before the 2017 Revaluation, this property had a RV of £11,600 and was getting the benefit of 50% rates relief with a yearly rates bill of around £2,600. At the Revaluation, the Assessor increased the RV to £17,750 meaning that in addition to an increase in value the property was only then getting 25% rates relief equating to a yearly rates bill of around £6,200. Following lengthy negotiations with the Assessor, we were able to prove that the value should be lower and negotiated a revised figure of £14,750. As the value is now below £15,000, the client is getting 100% rates relief, saving more than £30,000 over the five year revaluation cycle.
Workshop and Store – Stranraer
Prior to appeal, these industrial premises had a RV of £18,100, just £100 in value above the 25% rates relief threshold. Given the characteristics and occupation of this property, we identified the premises should in fact be split into two separate entries in the Valuation Roll. Through our discussions with the Assessor, there are now two separate Assessments of £13,900 and £4,400 meaning both occupiers are now below the 100% rates relief threshold.
Whether you are a landlord, tenant or occupier, if you wish to discuss any aspect of business rates, please do get in touch.