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Operators being warned to check rate revaluations
Page 48
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TRANSPORT OPERATORS are being warned to scrutinise their rate revaluations, because business owners in some areas are anticipating an increase of up to 30% over the next two years.
The evaluations were published in October on wwvv.voa.gov.uk/2010 and sent out to businesses.
Many of those with transport yards and warehouses are concerned that rates might be inflated because they are based on comparable rateable values in April 2008, before the recession reduced the value of commercial property Firms should assess their rateable values and, if necessary, appeal when the new charges come in on 1 April 2010.
According to commercial property consultants Lambert Smith Hampton (LSH), it is vital that operators do not assume that rateable values are correct.
LSH says it is has several commercial clients in the North-West that anticipate their rates rising by 30%, although the hardest hit are office and shop premises.
The average national bill should only rise in line with inflation, but that doesn't mean individual businesses will not have a shock. For those facing heavy increases, transitional help will be available.
Advice on how to assess your correctable value is available through the Forum of Private Business (www. fpb.org), the UK Warehousing Association (UKWA) (www.ukwa.org. uk) or other trade associations.
The UKWA is predicting a shortage of warehousing space post-recession because of the extensive demolition of viable, but unused, commercial premises by landlords following the end of rate relief on empty properties.