News Information - Chamber Campaigns
CHAMBER LOOKS INTO BUSINESS RATES INCREASES
06 July 2010
The Yeovil Chamber Of Trade and Commerce has been looking into reports from some members of huge increases in their 2010 business rates. Having reviewed the specific cases submitted where the increase is over 15%, it seems there is no immediate reason for them, and business effected should query these increases!
Most business who responded to our request for information, reported an "average" increase of about 5%, but some members have oddly received much higher demands. One member had a 67% increase for example, and several in the 15 to 30 % range. Business rates are computed on the "rental value" of the property, and revaluation is conducted every five years. On the cases submitted to Chamber It could not be seen that rental values had in the marketplace increased in the last five years, (especially given that we are in a recession and if anything rental values have fallen), so a call was made to South Somerset District Council who collect the rates, to query these "out of the norm" increases on behalf of members.
The Chamber member who was used as "a sample enquirer", was informed that SSDC had no involvement in setting rates, they simply collected the rates, and all enquires needed to be put through to Somerset County Council who were the recipients of the rates. On further discussion with the County representative, it was suggested that if you have reason to believe your rateable value is wrong, you need to contact your local office and talk to someone on the business rates team, who will answer your questions and explain how the rateable value has been allocated to your property. They will do all they can to resolve the situation as quickly as possible, but if there was no immediate answer, a formal appeal was the next course of action to be taken. In most cases you can submit an appeal online.
Yeovil Chamber recommends that any business who has had their rates increased by more than they feel is correct, should go to the web site for the valuations office agency at http://www.voa.gov.uk/ and look up their local office, and call them to discuss further, without further delay. Also on this web site is the procedure to make an appeal on line, which again for speed's sake is imperative. Historically appeals can take up to 12 months to hear! Over 270000 appeals were heard last year!
Please can Businesses give feedback to the Chamber via secretary@yeovilchamber.org on how they fare with their appeals, as the year goes by.
Yeovil Chamber Providing a strong voice for businesses, practical support and opportunities to network with like-minded local business people.
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