Rating Consultancy
We offer a professional, client focused service.
All non domestic properties in England and Wales are given a rateable value by the Valuation Officer. It is based on a hypothetical rental valuation of the property as at 1st April 2008.
The valuation of buildings for rating purposes is notoriously complex – but we can help. We have a thorough understanding of the valuation principles involved. We also have a firm grasp of the relevant Acts of Parliament and case law.
Phil Sani worked for the Valuation Office for four years, firstly in Yorkshire and then in London. This has given him invaluable knowledge and understanding of how ‘the other side’ works. For the last twelve years Phil has worked in private practice in Kent and now in Bath negotiating reductions in rating liability for clients in the industrial, retail and office sector. During this time clients have benefited from his thorough understanding of the rating system and his strong negotiating skills. We offer a professional, client focused service. We aim to reduce your liability and increase your bottom line.
Our service includes a full inspection of the property, a thorough examination of your own lease terms, analysis of the comparable rental evidence and negotiating with the Valuation Officer. If a negotiated settlement is not reached we are able to prepare and present a case to the Valuation Tribunal on your behalf.
Any reduction in rateable value will normally take effect from 1st April 2010 and last to the end of this rating list on 31st March 2015. Our fee will be performance related and based on a percentage of one year’s rates saving secured. Depending on our initial assessment of your case we are likely to be able to offer you a no win/no fee service. Payment of our invoice is due only after you have received your own savings from your local council.
If you have a rating liability that you have not had professionally checked then be proactive and ensure you are not being overcharged.
Empty Rates
From 1st April 2008 the Rating (Empty Properties) Act 2007 came into force in England and Wales and radically altered the empty rate rules.
Whereas under the old regime empty industrial properties were entirely rate free they now have just six months exemption before full rates are payable. For non-industrial properties the exemption period is just three months before full rates are payable.
In the current economic climate this change has left many businesses paying the rates on a building for which they have no use and for which they cannot find a tenant. Despite huge pressure, the Government has refused to back down and the only concession has been to properties with an assessment below £15,000 in 2009/10 and below £18,000 in 2010/11.
Phil Sani has been securing savings for clients in respect of empty rates since the changes were introduced. Successful strategies have included:
- Intermittent occupation
- Occupation by a registered charity
- Splits and mergers of assessments so as to qualify for an exemption period
- Deletion of the assessment from the rating list on the grounds the building is ‘incapable of beneficial occupation’ (a refund of approx £50,000 has been secured for one very happy client).
Please contact us if you would like to discuss the impact of the new empty rates regime on your business and how Phil Sani can save you money and increase your profit.
New Rateable Values for 2010
On 1st April 2010 all non domestic properties in England and Wales will have a new rateable value. The draft list assessments have been published on the Valuation Officer’s website; please follow the link below to check your new assessment.
The new rateable values will be in force for five years from 1st April 2010 to 31st March 2015. In England and Wales the average increase in rateable value is approximately 20%.
The new figures are based on the Valuation Officer’s opinion of rental value as at 1st April 2008. In April 2008 the property market was suffering from the effects of the ‘credit crunch’. The best form of rental evidence is new lettings and these were few and far between. The transactions that did take place often included landlords incentives such as long rent free periods. If the Valuation officer is aware of such incentives they will take them into account when setting rateable values.
Each assessment should be analysed by an experienced professional as mistakes are made. Phil Sani has been securing rate refunds for clients for fifteen years, normally on a no win/no fee basis. Please contact us if you would like to discuss the impact of the 2010 revaluation on your business and how Phil Sani can save you money and increase your profit.
Our Other Specialist Services
Rent Review
Phil Sani has been successfully settling rent reviews for over ten years, acting solely for tenants.
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Lease Renewal
We only act for tenants at lease renewal and rent review so there are no conflicts of interest.
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