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Sandford Gate, Eastpoint Business Park
Oxford

01865 910184

Oxford commercial property consultants and chartered surveyor providing commercial property agency services to the retail, office, industrial or leisure sectors.  

Understanding your business rates

Oxford Commercial Property Consultancy News

Oxford Commercial Property Consultancy.

Understanding your business rates

Amy Williams

With the 2017 Revaluation around the corner understanding your business rates has never been more important and with business rates being one of your largest liabilities it is key that you make sure the rateable value you are paying is correct. 

So with the recent announcements being made over the last month on business rates it is important to understand how the following changes, that were announced in the Budget 2016, will effect your business.  

  • Increase to small business rate relief from April 2017
  • Proposed new appeal regime 'Check Challenge Appeal'
  • Increase small business rate relief from April 2017
  • Small multiplier to apply to all RVs below £51,000 from April 2017
  • Switch annual indexation from RPI to CPI from April 2020
  • Aim to move to more frequent revaluations – discussion paper published
  • Transform billing and collection including standardising bills and linking with HMRC systems
  • 100% local authority retention from 2020 with pilots in 2017

Whether it’s challenging the rateable value of your property or making sure you’re not being overcharged on current or historic rates bills we can help you manage and minimise your rates liability to save you money and help you plan better.   

Please get in touch with us for more information.