Chorley Council Business Rates
Council business rates in Chorley have seen increases of over 31% for the industrial sector alone, since the revaluation came into effect on the 1st of April 2023. Many other commercial property types also saw large increases in rateable value (RV). The Valuation Office Agency (VOA) is the body that sets the rateable values for each revaluation. For the 2023 rating list, they valued all commercial properties in England and Wales at £70 billion per year. Roughly, this means that this tax will bring in around £30 billion in revenue this year alone and rise towards £35 billion in the next financial year.
According to the International Property Tax Institute (IPTI), business owners already paid the most expensive property taxes in the world in the previous rating list. Now, the VOA have raised the bar even higher, and business rates payers are feeling the pain of this seemingly increasing tax.
Increase costs for Chorley businesses
This is on top of other increases such as rent, commercial mortgages, wages, and utilities. The current climate makes it hard to find savings but ensuring that your tax is fair and accurate is one area that every commercial property owner or tenant should be look at.
Many businesses in Harrogate could be overpaying their business rates. As Anthony Hughes, Managing Director of RVA Surveyors, puts it:
“We estimate that as many as 50% of all commercial properties in England and Wales could be overpaying.”
Yet, many owners and tenants remain unaware that they have the option to review or challenge their business rates. In Harrogate alone, this could mean thousands of pounds slipping through the cracks each year.
Helping Chorley Businesses Take Control
At RVA Surveyors, we’ve worked with over 47,000 properties, helping businesses uncover inaccuracies in their rateable values and secure significant reductions in their business rates. Whether you’re curious about the potential for savings or need guidance with your tenancy agreements, our team is here to help.
Imagine what a reduction in your business rates could mean for your business. From much-needed cash flow boosts to backdated refunds, these savings could be the key to reinvesting in growth, retaining staff, or simply staying ahead of the competition.
Harrogate businesses shouldn’t have to bear the brunt of these soaring costs alone. Don’t let rising business rates hinder your success. Take action today by speaking to one of our experienced specialists.
With RVA Surveyors, you’re not just challenging your business rates—you’re reclaiming control over your finances. Contact us now to discover how we can help you unlock the savings your business deserves.
