Dover Businesses Rates
The 2023 revaluation of business rates has delivered a substantial blow to Dover’s commercial landscape, with industrial properties experiencing a staggering 37% increase in rateable value (RV). Other property types in the region have also seen dramatic hikes.
The Valuation Office Agency (VOA), which determines rateable values during each revaluation cycle, has pegged the total valuation of all commercial properties in England and Wales at £70 billion annually. This translates to an anticipated £30 billion in tax revenue this year, climbing to £35 billion by the next financial year. Such an increase adds pressure to businesses in Dover already grappling with what the International Property Tax Institute (IPTI) deems one of the world’s highest property taxes.
Impact on Dover Businesses
In today’s challenging economic environment, businesses are juggling escalating costs, from rent and commercial mortgages to wages and utilities. For many, scrutinising their business rates represents a vital opportunity to uncover potential savings. Ensuring your rateable value is both fair and accurate could provide the financial relief needed to stay competitive.
Anthony Hughes, Managing Director of RVA Surveyors, notes:
“Our data indicates that up to 50% of all commercial properties across England and Wales are likely overpaying on their business rates.”
For Dover’s businesses, this means thousands of pounds could be slipping through the cracks each year due to unchecked overpayments.
Book a rates review
At RVA Surveyors, we specialise in identifying and resolving rateable value inaccuracies. To date, we’ve partnered with over 47,000 commercial properties, helping them reduce liabilities and secure potential refunds.
Reducing your business rates offers more than immediate cost savings. Backdated refunds could provide a significant financial boost, while securing a fairer rateable value sets the foundation for sustainable growth.
Start Your Savings Journey Today
Contact RVA Surveyors today to discuss how we can help. With no upfront cost to explore your options, now is the time to reclaim control and safeguard your business’s financial future.
