Business rates are typically the third or fourth highest cost for any business. Commercial property landlords for example, have to consider how increases such as business rates (if the are the business rates payer) and energy costs affect the property, if as lease renewals or rent reviews approach, what the consequences of upping rent are. This monetary pressure coupled with the arrival of new rates bills was understandably too much for many business rates payers in March. It is the responsibility of local authorities to ensure that business rates payers’ information is not only up to date, but that reliefs are applied correctly. It is urgent, not only that business rate payers ensure that their business rates are accurate and fair, but that there are no unclaimed credits on their accounts.”While it is no longer possible for business rates payers to submit cases challenging potential backdated overpayments for the previous rating list, ensuring that current and future business rates are accurate, and fair is vital in ensuring that the small business community endures.

Source: The Guardian April 27, 2023 16:46 UTC