Hastings Business Rates
Business owners in Hastings are facing mounting pressures as business rates in the area have skyrocketed. For the industrial sector, rates have increased by more than 35% since the 1st April 2023 revaluation, with numerous other commercial property types also experiencing significant hikes in their rateable value (RV).
The Valuation Office Agency (VOA), responsible for setting rateable values, calculated that all commercial properties in England and Wales collectively account for £70 billion per year under the 2023 rating list. This translates into approximately £30 billion in revenue this year, which is expected to rise to £35 billion in the next financial year.
Hastings businesses are not only grappling with escalating business rates but also enduring other financial pressures such as rising rent, commercial mortgages, wages, and utilities. These compounded increases are stretching budgets thin and leaving many businesses searching for ways to alleviate their costs.
Yet, in such a challenging economic climate, ensuring that your business rates are fair and accurate could be one of the most impactful ways to uncover savings.
Rising Costs of Hastings Businesses
With thousands of businesses located within the Hastings catchment area, the overwhelming majority have likely seen their rateable values soar since the revaluation. In 2022 alone, business rates in Hastings rose by an average of 18%, adding to the financial strain.
Anthony Hughes, Managing Director at RVA Surveyors, noted:
“We estimate that as many as 50% of all commercial properties in England and Wales could be overpaying on their business rates.”
This isn’t just a nationwide issue—it directly affects Hastings. Many property owners and tenants may be unaware that they have the right to review or challenge their business rates. As a result, countless businesses in the area could be losing thousands of pounds each year.
Support Is Just a Call Away
At RVA Surveyors, we specialise in helping businesses navigate the complexities of business rates. Having engaged with over 47,000 properties to date, we’ve consistently helped our clients uncover inaccuracies in their rateable values, secure reductions, and even claim backdated savings.
Whether you’re looking to explore potential reductions in your liability or need support with tenancy agreements, our team of experts is ready to assist. A reduction in your business rates can provide an invaluable cash boost, allowing you to reinvest in your business and secure its long-term future.
Don’t Let Rising Rates Hold You Back
The rise in business rates in Hastings doesn’t have to spell disaster for your business. Take proactive steps to challenge unfair assessments, uncover savings, and ensure your rates reflect an accurate and fair valuation.
Contact RVA Surveyors today and start reclaiming the control your business deserves.
