Tax & Accounting News

Deadline nears for business rate refunds

15/03/2010

Small firms which may have been overcharged on their business rates during the past five years have until 31 March to submit an appeal to the Valuation Office Agency (VOA).

The deadline refers to tax bills since the last rates revaluation in April 2005. Businesses may appeal against the rateable valuation of their premises if they discover they are paying more than neighbouring businesses, or if they can prove there has been a ‘material change’ in their circumstances since the valuation.

Businesses can see what neighbouring premises pay by visiting the VOA’s website at www.voa.gov.uk. A ‘material change’ may refer to changes in the immediate surroundings – such as an increase in the number of empty shops, which has harmed trade – or an alteration to the size or use of the firm’s premises.

The Forum of Private Business (FPB) estimates that around 160,000 small firms have already won backdated reductions in their rates since 2005.

Business owners can also appeal against their forthcoming rates, which come into force this April and run to March 2015.

For more information please contact us.

 

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