Where to find business rates floor area rates?

[Kit26]

Hi

Perhaps my Googling is not quite as good as it needs to be as I really did not think this would be hard to find.

I'm trying to find the business rate multipliers per floor areas. This is the £ per square metre value for all the different areas that is used to build up the value as a whole.

I'm keen to understand why many of my neighbours have such lower values for areas with the same description as ours and therefore need to first understand how the VOA settles on each value. In the example below, a neighbour, we have the same three value in our building but they all have higher multiples.

Ground floor warehouse	1,114.68	£60.00	£66,881
Ground floor reception / entrance	59.26	£72.00	£4,267
First floor office	59.26	£72.00	£4,267

Our rates have gone up almost 50% this year across two buildings so I have no choice but to investigate to see if there any room for improvement.

Thanks

 

[Kit26]

Anyone able to offer advice?

 

[NickGrogan]

What do you mean by multipliers? The price per sqm?

The rateable value of a property is the theoretical rent that the property could have been lease for at a specific point in time. currently 1st April 2021.

It assumes the unit it vacant, in good condition, etc.

Most properties were not signing new leases on 1st April 2021, so they will need to be estimated.

If the valuation office thinks your property is better than your neighbours, you will have a higher valuation.

Also they make mistakes.

Speak to a chartered surveyor; they should be able to help.

Don't bother with one of those rating companies that charge a percentage of savings; it's cheaper to do it yourself with a surveyor.

FYI, I ran a rating company in the past

 

[WaveJumper]

Agree with Nick above, plus there are many reasons why the figures may vary from unit to unit. You maybe best to start here and then take it up with your local VOA they don't bite in my experience they have always proved to be very helpful

Business rates

Business rates are charged on most non-domestic properties - who has to pay, how your rates are calculated, getting a revaluation, what to do if your premises change.

www.gov.uk