Business Rates in Buckinghamshire
Business rates in Buckinghamshire have seen significant changes following the April 1st, 2023 revaluation. Office sector properties alone experienced increases of over 18%, with other commercial property types facing similarly steep hikes.
This revaluation, conducted by the Valuation Office Agency (VOA), has resulted in total rateable values across England and Wales reaching £70 billion annually. Consequently, these taxes are expected to generate £30 billion in 2023 and rise towards £35 billion in the next financial year.
Buckinghamshire Businesses
According to the International Property Tax Institute (IPTI), UK business owners already faced some of the highest property taxes globally before this revaluation. Now, the burden has grown even heavier, leaving business rates payers in Buckinghamshire feeling the strain.
Beyond the increase in rates, local businesses are grappling with rising rent, utilities, wages, and commercial mortgage costs, amplifying the financial challenges in an already tight economic climate.
Are You Overpaying on Business Rates?
Most businesses in Buckinghamshire have seen their rateable value (RV) skyrocket since the revaluation. Based on analysis by RVA Surveyors, as many as 50% of all commercial properties in England and Wales could be overpaying on their business rates. This overpayment issue could mean local businesses are losing thousands of pounds unnecessarily every year.
Many businesses remain unaware that they can review or challenge their business rates, potentially unlocking significant financial relief. Businesses in Buckinghamshire can avoid unnecessary losses by taking proactive steps to ensure their assessments are accurate.
How RVA Surveyors Can Help
RVA Surveyors specialise in identifying inaccuracies in business rates assessments and assisting businesses in securing reductions. With over 47,000 properties reviewed, RVA has successfully helped businesses across the UK. These reductions can provide immediate and long-term cash flow improvements, including the possibility of backdated refunds for previous overpayments.
Speak to an RVA specialist today and discover how much you could save.
