Business rates has become a controversial annual tax levied on commercial property and land which imposes a significant financial burden on owners and occupiers alike.
In simple terms, an occupier’s rates liability is calculated by multiplying the RV and the Uniform Business Rate (UBR) which is set by central Government and varies each year. However, in reality, the actual rates payable can be very different, affected by factors such as transitional phasing, supplements, reliefs, exemptions, refunds, interest and corporation tax.
In most situations, it is not possible to completely avoid liability, but the amount can always be challenged and rates charges scrutinised. Hicks Baker aims to ensure that a occupier’s liabilities are minimised; that they pay only the least amount of rates, no more. In certain limited circumstances, it is possible to legitimately avoid rates altogether. If there is a way of doing so then Hicks Baker’s business rates specialists, will find and exploit the opportunity.
Hicks Baker has a successful track record in this specialist area across a broad range of property types located both in the Thames Valley and nationally. For further information please contact Stephen Gregory.