Business Rates - Sorry :(
Discussion
Any experts in the house or recommendations please? Been scammed in the past so am very wary!
We've been in our unit for 15+years (new when moved in) and it's rated as a "warehouse". It came to light during the recent local govt grant schemes that we're actually a retail vehicle workshop - not a warehouse, plus I've been asked to rent some of our space to another company so my questions are:
1: Should we be on a different rate-able value due to not being a warehouse?
2: Are there internal area values that we should look at renting out (currently 5500sq/ft) that would reduce the liability?
Also, any pointers to a specialist that's not a lying thief would be appreciated
We've been in our unit for 15+years (new when moved in) and it's rated as a "warehouse". It came to light during the recent local govt grant schemes that we're actually a retail vehicle workshop - not a warehouse, plus I've been asked to rent some of our space to another company so my questions are:
1: Should we be on a different rate-able value due to not being a warehouse?
2: Are there internal area values that we should look at renting out (currently 5500sq/ft) that would reduce the liability?
Also, any pointers to a specialist that's not a lying thief would be appreciated
Who has told you that you are a vehicle retail workshop? I can imagine the theory behind that is to get the retail hospitality relief or one of the grants available for that sector. Looking at your website I am not convinced I agree. The big concern with a recatergorisation would be the VO valuing parts of the property as retail which would increase the RV not reduce it! What relef or scheme do you thing you qualify foie
As it happens you are in the area of the country I cover but as a company we would be unlikely to take on a single property occupier, however I can probably recommend someone if there is something to chase.
If you were to sublet part yes one could look at a separate assessment, however its likely that the total rates bill for the whole would be larger. However I would recommend when anyone does a sublet they seek a separate assessment. This is to prevent a situation where the tennat doesnt pay the rent but the landlord still has to pay the rates!
I assume the unit is rented. Could you PM me what the rent is and the date it first became payable? The rateable value is meant to represent the annual rental value of the property as at 1 April 2015 which is why I am interested in the rent. I assume the mezzanine floor is still in the building?
As it happens you are in the area of the country I cover but as a company we would be unlikely to take on a single property occupier, however I can probably recommend someone if there is something to chase.
If you were to sublet part yes one could look at a separate assessment, however its likely that the total rates bill for the whole would be larger. However I would recommend when anyone does a sublet they seek a separate assessment. This is to prevent a situation where the tennat doesnt pay the rent but the landlord still has to pay the rates!
I assume the unit is rented. Could you PM me what the rent is and the date it first became payable? The rateable value is meant to represent the annual rental value of the property as at 1 April 2015 which is why I am interested in the rent. I assume the mezzanine floor is still in the building?
OP, rating is a complex area of the property industry...there are a number of car dealers around my locality who use warehouses to base themselves from & In the past they’ve been able to claim they don’t sell to the general public as it’s by appointment & just a storage facility as an example of how each rating authority differs in their approach to the rules. Seek a rating specialists’ advice but don’t pay anything upfront (which I’m sure you are aware of).
Subletting space can open a can of worms on rating matters btw.
Subletting space can open a can of worms on rating matters btw.
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