In a nutshell, yes. A bit like retail, its expensive, but unlike retail, you will not receive any discounts unless your rateable value is less than £15,000. See tapered rateable values and small rates relief chart over at our website.
If you have two or more properties, then you will not receive any small business rates relief in the majority of cases.
But why is office space so expensive for business rates. It is because the valuation office deems it to be prime real estate that often commands higher rents. This is not true in its entirety, but this is what they do.
Is it worth appealing the office space business rate costs?
In many cases no, it is not worth appealing. But this is not the case for all office space properties. And it may well be worth getting a free business rates review from Business Rate Advisors. This would assist you in determining whether you have a good chance of reducing your business rates and winning your challenge case.
Can I split office space to reduce costs?
Yes, so long as the tenants have their own access point and exclusivity of their property. This is one effective way of lowering costs, but keep in mind that the occupiers should be separate companies or sole traders.
Pick up the phone or send us an email if you would like a free business rate review of your commercial office space.
Speak with Mark Allen or Steve Adams by visiting the website www.businessratehelp.co.uk
See you soon.
Steve @ Business Rate Advisors Ltd
Landline 01225667747
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