The British Property Federation has backed veteran retailer Bill Grimsey’s call for a “root and branch” review of business rates as data reveals that the UK faces the highest bill in Europe.
Neville Thompson, Chairman of CBRE’s Southern Region office comments: “For some time our clients have bemoaned the significant extra tax burden business rates places on them, often marginalising the cost effectiveness of some of their operations. Across the South there are cases where the decision to take on another business unit in order to grow a company is dropped partly due to the rates liability which incurs a charge long before any profit is achieved. Development sites remain un-built as this tax is levied even while buildings are empty.
“Our clients are increasingly asking us to undertake appeals on business rates assessments in order to minimise this extra tax liability. We have developed strategies to limit liabilities which are based on our in depth knowledge of the valuation system, statutes and case law which enable us to achieve the best outcome for our clients both locally and on a national scale.
“This latest research shows how important that work is, especially now that local authorities and the Valuation Office are spending more time and effort in maintaining an increasing ‘tax take’ from both businesses and non-profit making entities alike.”
