Rating & Compensation
Business Rates
Business Rates are a tax on commercial property collected by the Local Authority and can often be a significant annual outgoing for a company.
The calculation of Business Rates is based on the Rateable Value of a commercial property and the Rateable Value is the government's assessment of the annual rent of a property assuming it was available to let on the open market at a fixed valuation date. For the current 2005 Rating List this is 1 April 2003. The Valuation Office on behalf of the government carries out the assessment of the rental value.
Every five years the Rateable Values of all business properties in England and Wales are reassessed and the most recent revaluation came into effect on 1 April 2005.
It is possible to appeal against the Government's assessment of the Rateable Value in order to lower the figure and utimately reduce the amount of tax paid per year. We would first investigate the Ratable Value to see if there is any merit in making an appeal and achieve tax savings.
It is important to investigate the accuracy of the Rateable Value before making any appeal as the Valuation Office also has the powers to increase the Rateable Value.
We offer a comprehensive service covering Business Rates from the intial assessment of the Rateable Value through to making and negotaiting the appeal. We have many years experience in making successful rating appeals and one of the team has even worked for the Valuation Office for six years.
Compulsory Purchase & Compensation
Public authorities have the power to compulsory purchase a property and this is done by serving a Compulsory Purchase Order (CPO) on those who have an interest in the land.
These powers enable local authorities and other public bodies to acquire land for public projects such as new roads, railway lines and it is a tool often used by government to bring together land for regeneration schemes. There is legislation in place governing compulsory purchase and compensation and this aims to compensate the owners/tenants for their land being acquired.
We are actively involved in compulsory purchase cases in the Olympic Zone where the London Development Agency are using these powers extensively to acquire land.
The compulsory purchase of property is an unavoidable problem when it happens, but early action and co-ordinated representation helps our customers to obtain the optimum settlement.
Claims can also be made when no land is acquired but when it is thought the value of the property concerned has been reduced because of its proximity to a development which is being compulsorily purchased.
We provide prompt and professional advice and help minimise the impact of receiving a CPO or being affected by a scheme.
