Claiming business rate relief can bring significant financial benefits to small businesses in London, helping to reduce or even eliminate your rates bill.
The process is pretty straightforward, beginning with gathering evidence to support your claim, such as photographs of your property, copies of your plans, and your current rates bill. These documents are crucial to proving that the current rateable value of your property may not accurately reflect its market value or usage.
But it’s essential to thoroughly prepare to help secure a positive outcome – be that a reduction or even backdated refunds.
Once you’ve pulled together the evidence, log into your Government Gateway account to review the information held by the Valuation Office Agency (VOA) on your property. If you think the rateable value is wrong, you can submit a ‘check.
If, at this stage, you find any discrepancies, you can submit a formal challenge. This would involve submitting your evidence and an explanation of why the rateable value should be adjusted.
The review process by the VOA may take some time, so prepare for a bit of a wait.
Read our case study about a coworking space operator who worked with us to secure almost £100,000 in refunds. Despite the detailed process it’s quite straightforward, as long as you prepare fully.
Contact us for free business support and specialist business events in London. Our experts offer advice in finding your way through the rate relief claims. Sign up here.
