Business Rates in Canterbury
Business rates in Canterbury have seen significant increases, with the industrial sector alone facing hikes of over 28% since the revaluation on the 1st of April 2023. Other commercial property types have also experienced substantial increases in their rateable value (RV), making it critical for business owners to stay informed and proactive in managing these rising costs.
The Valuation Office Agency (VOA) is responsible for setting the rateable values that determine how much businesses must pay. For the 2023 rating list, England and Wales were collectively valued at an estimated £70 billion in annual rateable values. This translates into approximately £30 billion in revenue this year, with projections rising to £35 billion in the next financial year.
Canterbury Businesses
In addition to business rates, Canterbury’s business owners are dealing with rising rent, commercial mortgages, and utility costs. In this challenging environment, it’s more important than ever for businesses to ensure that their business rates are accurate and fair.
Are You Paying Too Much?
It’s estimated that as many as 50% of commercial properties across England and Wales could be overpaying on their business rates. According to Anthony Hughes, Managing Director of RVA Surveyors, “We believe many businesses are unaware that they can review or challenge their business rates.”
What Can RVA Surveyors Do for Canterbury Businesses?
With over 47,000 properties reviewed, RVA Surveyors specialises in helping businesses identify opportunities for rateable value reductions. Our services include:
- Comprehensive business rates review to check for errors or discrepancies
- Challenging your business rates if overpayment is identified
- Support with tenancy agreements to ensure favourable terms
Business rates in Canterbury may have increased, but your business doesn’t have to suffer from these rising costs. RVA Surveyors can help you secure backdated savings and reduce your future liabilities.
Act now and reach out to one of our experts to explore how we can help reduce your business rates liability. Start saving today!
