Reduction Agreed:
Hammer Properties have successfully reduced the Rateable Value of a Shop in Barking & Dagenham. Hammer Properties agreed a reduction from £15,500 to £7,200 with the Valuation Office. As Hammer Properties have reduced the RV under £12,000 the occupier is now entitled to SBR (Small Business Rates Relief). In real terms this means the following saving will apply excluding any transitional relief (*) or Small Business Rates Relief (*) given by the local authority.
Year/Rate | £15,500 | £7,200 | Saving |
2010-11 40.7% | £6,308.50 | £2,930.40 | £3,378.10 |
2011-12 42.6% | £6,603.00 | £3,067.20 | £3,535.80 |
2012-13 45.0% | £6,975.00 | £3,240.00 | £3,735.00 |
2013-14 46.2% | £7,161.00 | £3,326.40 | £3,834.60 |
2014-15 47.1% | £7,300.50 | £3,391.20 | £3,909.30 |
2015-16 (average 48.0%) | £7,440.00 | £3,456.00 | £3,984.00 |
2016-17 (average 49.0%) | £7,595.00 | £3,528.00 | £4,067.00 |
TOTAL | £49,383.00 | £22,939.20 | £26,443.80 |
You can see this reduction that Hammer Properties agreed on the VOA website; http://www.2010.voa.gov.uk/rli/en/advanced/assessment-history/2010/15044971000
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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