Reduction Agreed:
Shop in Coventry, Hammer Properties managed to get the Valuation Office to agree a reduction from £24,000 to £22,500. In real terms this means the following saving will apply excluding any transitional relief (*) given by the local authority.
Year/Rate | £24,000 | £22,500 | Saving |
2010-11 41.4% | £9,936.00 | £9,315.00 | £621.00 |
2011-12 43.3% | £10,392.00 | £9,742.50 | £649.50 |
2012-13 45.8% | £10,992.00 | £10,305.00 | £687.00 |
2013-14 47.1% | £11,304.00 | £10,597.50 | £706.50 |
2014-15 (average 48.0%) | £11,520.00 | £10,800.00 | £720.00 |
2015-16 (average 49.0%) | £11,760.00 | £11,025.00 | £735.00 |
2016-17 (average 50.0%) | £12,000.00 | £11,250.00 | £750.00 |
TOTAL | £77,904.00 | £73,035.00 | £4,869.00 |
This reduction has just been agreed and has not been submitted on the VOA website as yet.
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
You must be logged in to post a comment.