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Why Should You Review Your Business Rates This Spring

As the flowers bloom and the weather warms, Spring marks a time of renewal and growth. It’s also an opportune moment for businesses to reassess their financial strategies and prepare for the year ahead.

At Goodman Nash, as property auditors with 30 years of experience, we’re paying particular attention to the Spring Budget and anything likely to affect business rates, and here’s why now is also a good time to review what you’re paying.

Business rates are taxes that most businesses in the UK must pay on the properties they occupy. These rates are based on the property’s rateable value, which is periodically reassessed by the Valuation Office Agency (VOA). However, these assessments may only sometimes reflect the current market conditions or changes in your business operations. Reviewing your business rates ensures that your property’s valuation is fair and accurate, potentially saving you from overpaying your taxes.

Conducting a thorough review of your business rates can uncover opportunities to reduce your tax burden. This may involve identifying exemptions or reliefs that your business may be eligible for, such as Small Business Rate Relief or Charitable Rate Relief. Additionally, if your property’s value has decreased since the last assessment, you may be entitled to a reduction in your business rates. By proactively seeking out these savings opportunities, you can optimise your business’s financial performance and enhance your bottom line.

Reviewing your business rates in Spring aligns with strategic financial planning for the year ahead. Understanding your tax obligations early in the fiscal year allows you to allocate resources and budget effectively. This will enable you to avoid any unexpected financial strains and ensure sufficient funds are set aside for tax payments. Moreover, by incorporating potential savings from rate reductions or reliefs into your financial projections, you can confidently plan for growth initiatives or investments in your business.

For 30 years, Goodman Nash have crafted their expertise and built an in-house team of auditors and data specialists who continually search and analyse over two million current rateable properties to identify savings through reliefs and exemptions. Our approach is uniquely targeted, meaning we’ll only contact you if they think a claim can be made. This means we can only help some businesses in the UK, as many will be on the correct rates and reliefs, but if you would like to see if we can help alongside CH4B, get in touch today.

Goodman Nash work on a no-win, no-fee basis and are regulated by RICS (Royal Institution of Chartered Surveyors) and the IRRV (Institute of Revenues Rates and Valuation).

Join CH4B for exclusive access to our network of expert partners, including Goodman Nash, renowned for their excellence in Business Rates Reductions. With CH4B, you gain direct access to audited professionals who can provide tailored solutions to propel your business forward. Don’t miss out on this opportunity to elevate your success – Get in touch today!

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Kimberley Moreno
Head of Professional Partnerships
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Why Should You Review Your Business Rates This Spring

Why Should You Review Your Business Rates This Spring

As the flowers bloom and the weather warms, Spring marks a time of renewal and growth. It’s also an opportune moment for businesses to reassess their financial strategies and prepare for the year ahead.

At Goodman Nash, as property auditors with 30 years of experience, we’re paying particular attention to the Spring Budget and anything likely to affect business rates, and here’s why now is also a good time to review what you’re paying.

Business rates are taxes that most businesses in the UK must pay on the properties they occupy. These rates are based on the property’s rateable value, which is periodically reassessed by the Valuation Office Agency (VOA). However, these assessments may only sometimes reflect the current market conditions or changes in your business operations. Reviewing your business rates ensures that your property’s valuation is fair and accurate, potentially saving you from overpaying your taxes.

Conducting a thorough review of your business rates can uncover opportunities to reduce your tax burden. This may involve identifying exemptions or reliefs that your business may be eligible for, such as Small Business Rate Relief or Charitable Rate Relief. Additionally, if your property’s value has decreased since the last assessment, you may be entitled to a reduction in your business rates. By proactively seeking out these savings opportunities, you can optimise your business’s financial performance and enhance your bottom line.

Reviewing your business rates in Spring aligns with strategic financial planning for the year ahead. Understanding your tax obligations early in the fiscal year allows you to allocate resources and budget effectively. This will enable you to avoid any unexpected financial strains and ensure sufficient funds are set aside for tax payments. Moreover, by incorporating potential savings from rate reductions or reliefs into your financial projections, you can confidently plan for growth initiatives or investments in your business.

For 30 years, Goodman Nash have crafted their expertise and built an in-house team of auditors and data specialists who continually search and analyse over two million current rateable properties to identify savings through reliefs and exemptions. Our approach is uniquely targeted, meaning we’ll only contact you if they think a claim can be made. This means we can only help some businesses in the UK, as many will be on the correct rates and reliefs, but if you would like to see if we can help alongside CH4B, get in touch today.

Goodman Nash work on a no-win, no-fee basis and are regulated by RICS (Royal Institution of Chartered Surveyors) and the IRRV (Institute of Revenues Rates and Valuation).

Join CH4B for exclusive access to our network of expert partners, including Goodman Nash, renowned for their excellence in Business Rates Reductions. With CH4B, you gain direct access to audited professionals who can provide tailored solutions to propel your business forward. Don’t miss out on this opportunity to elevate your success – Get in touch today!