Colliers International reports that office occupiers and landlords, hotel operators and industrial property businesses in the North West of England could claim hundreds of thousands of pounds in overpaid business rates, if eligible to lodge an appeal by 31st March.
The real estate advisors analysed the number of office, hotel and industrial business rate assessments in the North West with the total rateable value (RV), based on its success of achieving an actual reduction in savings on business rates for its clients.
As per the three tables below, the firm’s research showed that eligible industrial landlords and occupiers in the region could achieve an average saving of £109,081.41 by submitting an appeal before the deadline, based on a 7.5 per cent reduction in business rates already achieved by Colliers International for clients in the sector.
Eligible hotel operators in the North West stand to achieve an average rebate of £39,371.57 based on a 12.5 per cent reduction already achieved by Colliers and office occupiers and landlords face a prospective cut of £3,910.09 on the basis of the firm already securing an average reduction of 7.5 per cent for clients.
Adam Burke, Head of Rating at the North West office of Colliers International in Manchester, said businesses across these sectors and others were eligible to appeal if they had not previously appealed their assessment or if they believed physical changes to or near their property had a detrimental impact on their business.
He added: “We would encourage anyone who hasn’t investigated their current rating assessment and is eligible to make an appeal, to do so as soon as possible – before the shutters come down on 31st March.
“Most businesses won’t be aware of these changes. It hasn’t been greatly publicised and even our clients with experience in rating are unaware of it until we discuss it with them. We are concerned that the new deadline will cause panic with the cowboys in the industry persuading clients to appeal en-masse without appropriate due diligence.”
Businesses have just three weeks left to appeal their business rates, before the end of month deadline.
