Accounting firm reduces business rates numbers with RVA Surveyors
Case study:
Accounting Firm | London
Specialising in providing accounting and business advisory services to industries such as construction, property, and hospitality
KEY
FACTS
1.5 YEARS
ACHIEVED IN
£9,337
SAVINGS
Office
PROPERTY TYPE
The Client
Based at Snakes Lane East, Woodford Green, our client is a well-established company in the commercial real estate sector. They specialise in providing expert accounting and business advisory services to industries such as construction, property, and hospitality. Their services range from tax compliance solutions to strategic financial planning and business growth strategies.
It was crucial for the client to receive professional assistance in evaluating business rates for one of their commercial properties. The property was being assessed as part of a larger valuation scheme based primarily on its age and location, but the client strongly believed their business rates was higher than justified.
The Problem
The client was concerned that the current property valuation did not reflect local property market trends, resulting in an overinflated market value assessment. This miscalculation posed a financial burden, as they faced unjustifiably high rental costs if the valuation remained unchanged.
Initially, the property was placed within a broader valuation scheme by the Valuation Office Agency (VOA), which relied heavily on the building’s age as a determining factor in setting the price per square metre. However, based on rental evidence from similar local properties, it was clear that the proposed price was significantly above the fair market rate. The rental evidence showed that the property had been overvalued when compared to nearby properties of similar condition and purpose.
The Solution
RVA Surveyors conducted a thorough property market analysis, carefully comparing rental prices of similar properties within the area. We considered multiple factors such as property condition, strategic location, and rental values of comparable spaces in the same vicinity.
We compiled strong, data-backed evidence to support the argument that the client’s property had been significantly overvalued. Using this compelling evidence, we challenged the initial valuation with the VOA during the ‘Challenge’ stage of the Check, Challenge, Appeal (CCA) process.
The Outcome
Following negotiations and extensive evidence submission, we successfully secured a 26% reduction in the property’s price per square metre, bringing it in line with accurate market valuations.
Thanks to our intervention, the client benefited from a significant cost reduction, with the revised price per square metre adjusted to £120—a valuation fully aligned with similar properties in the area. This correction led to substantial financial savings for the client, reinforcing our commitment to securing fair and accurate valuations in commercial real estate assessments.
Savings achieved: £9,337
Surveyor comment
“Reviewed the property’s use and access, successfully challenging the overvaluation and securing a fairer assessment.”
