What are Business Rates ?
Business rates are a tax on
the right to occupy commercial
property and typically equate
to approximately 45% of annual
rent. As such, they represent
one of the largest overheads for
businesses and substantially
impact on the profitability of
many organisations.
How are Business Rates Calculated ?
Business rates are calculated by
multiplying the ‘rateable value’
of a property by the uniform
business rate (UBR).
The ‘rateable value’ is the
Valuation Office’s estimate of a
property’s market rent at a set
valuation date. We are currently
in the 2010 Rating List with
rateable values being based on
a valuation date of 1st April 2008.
How We Can Help
Since Business rates are based on the Authorities’ or Valuation Office’s estimate of
the annual rental of a property, the calculation of them is often open to challenge.
The Knight Frank Business Rates team consists of both chartered surveyors
and audit specialists, drawing on over 45 years of experience in managing the
complexities of the rating system. Our role is to actively seek to reduce your rate
liabilities, ultimately placing your company in a better financial position.
What We Do
In simple terms, we use our experience and knowledge of the rating system to
mitigate your rate liabilities. If excessive assessments are identified, we can lodge
an appeal with the Valuation Office, with the aim of securing a full refund on past
payments and a reduction in your rate liability going forward.
We advise clients on traditional accommodation such as offices, industrial and
retail premises as well as specialist properties such as hotels, leisure facilities
and museums. We are also able to provide strategies to minimise rate liability if
a premises is empty, only partially occupied or is adversely affected by external
factors such as major building works.
Services we provide
Effective management of your Business Rates can generate
significant savings. Our comprehensive rating service can
be tailored to your requirements with our complete
Mitigation Strategy covering the following services:
A Complete Business Rates Mitigation Strategy
Rate Assessment Review
- Determine if the rating assessment is legally valid.
- Ensure the accommodation matches the assessment both in terms of area and demise.
- Review the rateable value using our extensive market knowledge.
- Challenge excessive assessments and secure reductions.
- Full representation at the Tribunal Service Hearings.
- Monitor and react to any changes to the property or surroundings over the life of the rating list.
Rate Account Management
- Forensic rate audit on past payments.
- Identify and secure all relief’s and exemptions.
- Provide empty rate mitigation strategies.
- Full rate payment facility.
- 24/7 web access to live rate liability position on each property across the portfolio.
- All refunds tracked, secured and validated.
- Full Representation at the Magistrates Court
where invalid demands are contested.
We are proud to advise some of the leading organisations in the
United Kingdom. Our relationship with our clients is at the core of our service.
Through regular meetings, we can ensure that strategic rates advice is provided
on all property decisions. Our successful track record is shown on our case
studies across this report.
- AELTCC ( Wimbledon)
- Almacantar
- Ambac Assurance
- Arlington
- AVAYA
- Avestus
- Big Lottery Fund
- Boden
- British Land
- Bruntwood Estate
- Capital & Counties
- Carbon Trust
- Cardiff Bay Partnership
- Constellation Group
- Crown Estate
- Hammerson
- Helical Bar
- Henderson Global Investors
- Holland & Holliand
- Intel Corporation
- Investec
- IVG
- KPMG LLP
- L A Fitness Group
- Lancashire County Pension Fund
- Matthew Clark Wholesale
- McAleer & Rushe Group
- Metro Bank
- Minerva
- Morley Fund
- National Science Museums
- National Union of Teachers
- NESTA
- Orion Capital Partners
- Orrick
- Osborne Clarke
- Pentland Group
- Premier Cru Hotels
- Public & Commercial Services Union
- Quintain Estate & Development Plc
- Reed Smith LLP
- RO Developments
- SAWIS
- Scottish Courts Service
- Smurfit Kappa
- Stephenson Harwood
- Talk Back Thames
- Teva UK
- The Garden Centre Group
- Thomas Miller
- Towry Law
- Westminster City Council
Testimonials
" For Henderson Global Investors, active
management of Business Rates is one of the key
components in controlling our accommodation
cost base. We use Knight Frank, and have for
many years, because of the results they achieve
on our behalf. They are proactive, innovative and
consistent, and we believe, the Number One firm
for Business Rates. "
Fred Kinahan, Head of Facilities Management
Henderson Global Investors
"
We have used Knight Frank's rating service over the
last 10 years and we have always been impressed
at their professionalism and the level of savings
they have secured. We have no hesitation in
recommending them. "
Tony Grimes, Head of Facilities
Investec
Knight Frank is the leading
independent global commercial
property consultancy where your
business is our priority. Established
over 100 years ago we insist on
transparency, clarity and excellence in
the service we provide to our clients;
you can be confident that your needs
will be met by a wealth of expertise at
every stage.
Our market leading rating team offer
an unrivalled level of knowledge,
experience and success in their field.
As a national service line we are well
positioned to ensure our client’s
needs are met without compromise,
regardless of location. As a Knight
Frank client you enjoy the benefit of a
dedicated case handler, acting on your
behalf and representing your interest
at every stage of the process.
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