Reduction Agreed:
Shop in Newham, Hammer Properties managed to get the Valuation Office to agree a reduction from £36,500 to £25,500 by having the property split. In real terms this means the following saving will apply excluding any transitional relief (*) given by the local authority.
Year/Rate | £36,500 | £25,500 | Saving |
2010-11 41.4% | £15,111.00 | £10,557.00 | £4,554.00 |
2011-12 43.3% | £15,804.50 | £11,041.50 | £4,763.00 |
2012-13 45.8% | £16,717.00 | £11,679.00 | £5,038.00 |
2013-14 47.1% | £17,191.50 | £12,010.50 | £5,181.00 |
2014-15 (average 48.0%) | £17,520.00 | £12,240.00 | £5,280.00 |
2015-16 (average 49.0%) | £17,885.00 | £12,495.00 | £5,390.00 |
2016-17 (average 50.0%) | £18,250.00 | £12,750.00 | £5,500.00 |
TOTAL | £118,479.00 | £82,773.00 | £35,706.00 |
You can view this information on the VOA website by using the following link: http://www.2010.voa.gov.uk/rli/en/advanced/searchResults
Want to see what we could do for you? Contact us using the following links:
Blog: https://hammerproperties.wordpress.com/contact-us/
Website: http://www.hammerproperties.co.uk/
Facebook: https://www.facebook.com/HammerPropertiesIlford
(*) What is Transitional Relief? See the following link: https://hammerproperties.wordpress.com/2013/12/04/what-is-transit/
(*) What is Small Business Rates Relief? See the following link: https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief
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