Flintshire Business Rates
Business rates in Flintshire/Sir y Flint have risen sharply, with the industrial sector alone seeing increases of over 8% since the 1st April 2023 revaluation. Other commercial property types have also faced substantial hikes in their rateable value (RV).
The Valuation Office Agency (VOA), responsible for setting rateable values, assessed all commercial properties in England and Wales at £70 billion per year for the 2023 rating list. This staggering figure means the tax is expected to raise £30 billion this year, rising to £35 billion next year.
The International Property Tax Institute (IPTI) has consistently reported that UK businesses pay one of the highest commercial property taxes in the world. Now, with the VOA’s latest revaluation, Flintshire businesses face even greater financial strain from this ever-increasing tax.
Rising Costs for Businesses in Flintshire
These business rate increases come on top of rising costs elsewhere, including higher rents and mortgage repayments, increasing energy bills and utilities and rising wages and operating expenses.
Flintshire/Sir y Flint is home to thousands of businesses, most of which have seen their rateable values rise sharply since the revaluation. In 2022 alone, business rates in areas like Flintshire rose by an average of 18% compared to the previous year.
Anthony Hughes, Managing Director of RVA Surveyors, stated:
“We estimate that up to 50% of all commercial properties in England and Wales could be overpaying on their business rates.”
Could Your Flintshire Business Be Overpaying?
Many businesses in Flintshire don’t realise they can review or challenge their business rates. As a result, they could be overpaying thousands of pounds every year without knowing it.
At RVA Surveyors, we specialise in helping commercial property owners and tenants review rateable values to ensure accuracy, challenge unfair assessments and reduce liabilities and secure savings and potential backdated refunds
Reducing your business rates could offer a much-needed cash boost for your company. This can improve cash flow and free up essential funds for reinvestment. Backdated refunds also provide significant long-term financial benefits.
Act Today – Speak to Our Specialists
Don’t let rising business rates damage your finances. Our team of expert surveyors can help you investigate potential savings, challenge unfair assessments and ensuring you pay only what’s fair.
Contact us today to find out how RVA Surveyors can help reduce your business rates liability and secure the savings your business deserves.
