Business rates are a property occupier’s tax calculated using a simple formula: rateable value x Uniform Business Rate (UBR). The UBR is set by Government and cannot be challenged, but rateable value is reassessed every five years, and ensuring that this is correct and fair can have a major impact on business profitability.
Watsons regularly advises on whether they should be contesting a reassessment. Based on our experience, extensive database and knowledge of the commercial property market, if we recommend that an appeal is merited, we then undertake negotiations with the Valuation Officer on a client’s behalf.
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