Reduce rate liabilities
Are you fully utilising the Government’s Covid-19 relief scheme and minimising liability for empty space?
- Have you reviewed the Government’s Covid‐19 rates relief scheme? Less obvious property uses may be eligible for 100% relief from the 1st April 2020 to the 31st March 2021.
- Are you protected through lodging a Check against your assessment?
- Did you hold empty/vacant space during the crisis and now face a full rates liability?
The UK government has introduced 100% Business Rates relief for a year, primarily focused across the Retail and Leisure sectors, hard hit during the crisis. However, cases have been won to include a number of mixed and more obscure uses within the scheme.
Despite significant pressure, the Government has provided no help to those suffering considerable hard-ship outside the retail and leisure sectors. We consider that there are two significant opportunities:
- There remain fundamental questions around the rental value of the majority of premises during lock down which could extend well into 2021. Even if your property is eligible for the exemption relief, checks must be served now to secure the most favourable date of valuation. This is time critical. To maximise savings, checks must be served before social distancing is relaxed and lockdown is substantially lifted.
- As we enter a more difficult market, the difficulty in letting vacant space will become more apparent. Empty rates will become an increasing burden. There may be opportunities to negate or significantly reduce this cost.
We have lodged over 12,000 Covid-19 checks against assessments effective from the 23rd March. We can explore with you a number of schemes to reduce vacant rate liabilities.
Our market leading business rates team of 70 operates across the UK. The sector depth and experience of the team is unrivalled, and we are proud of the quality of advice and rate liability mitigation work we undertake for our clients.
We represent some 1,500 clients across public and private sectors, who operate from circa 25,000 assessed properties and manage over £5 billion of total RV, around 8% of the value of all assessments in the UK. Over the last 7 years we have saved our clients £2.5 billion in business rates.
For more information please contact:
David Jones Principal and Managing Director Business Rates email@example.com