Leisure property specialist Fleurets has revealed that over £10m was saved in business rates refunds for its clients over the duration of the 2010 Rating List, thanks to the company’s efficient business rates consultancy service.
Claim backdated business rates refunds by 31 March
All commercial properties occupiers pay business rates which are based on the rental value of the property as at the 1st April 2008, as set by the Valuation Office Agency (VOA). Recent proposed legislation change means that occupiers now only have until 31st March 2015 to claim any business rates refunds backdated to April 2010.
“From then, the maximum refund will cover just two years, rather than the current seven. Given the technicality of this imminent proposed change, it’s essential occupiers take action as soon as possible to ensure they don’t lose money.” says Ben Peers of Fleurets London.
Market evidence and turnover information
Fleurets, using its extensive database of market evidence and turnover information, provides the knowledge to determine whether the Rateable Value is within the right parameters and whether an appeal is worthwhile.
“We count approximately 500 successful business rates reductions over the last five years,” continues Peers. “Just in 2014, we managed to allow our client to save over £1.5 million, as well as to count almost 100 successful rates reductions”.
Fleurets names established companies such Fuller’s and Punch Taverns amongst the clients who benefit from the service.
“Fleurets Business Rates consultancy service strives to achieve the best possible results for the ratepayers: operators of public houses, restaurant, hotel or any other leisure business,” continues Peers. “We work on a no win no fee basis so even from the initial stages of review we will be up front and honest with the merit of our client’s appeal before proceeding.”
Case histories
- Moat House Hotel, Stafford – Rate Savings £175,000+
- Vintry, City of London – Rate Savings £155,000+
- Umi Hotel, Brighton – Rates Savings £100,000 +
- White House Hotel, Watford – Rates Savings £87,000+
- Wildmoor Spa & Health Club, Stratford Upon Avon – Rates Savings £85,000+
- Tokenhouse, City of London – Rates Savings £70,000+
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