Harlow Council Business Rates
Council business rates in Harlow have surged, with the office sector seeing increases of over 14% following the 1st April 2023 revaluation. Furthermore, other commercial property types have also experienced significant hikes in rateable value (RV), compounding the financial pressure on businesses in the region.
The Valuation Office Agency (VOA), which is responsible for setting rateable values during revaluations, placed the value of all commercial properties in England and Wales at £70 billion per year for the 2023 rating list. Consequently, this taxation measure is projected to generate £30 billion in revenue this year, with expectations to increase to £35 billion in the next financial year.
Pressure for Harlow Businesses
Businesses in Harlow are grappling with a combination of rising costs, including council business rates, rent, commercial mortgages, wages, utilities, and other operating expenses. As a result, the financial strain has become considerable, particularly since most businesses in the region have experienced exponential increases in their rateable values.
For example, in 2022 alone, council business rates in areas like Harlow increased by an average of 18% compared to the previous year. Moreover, according to the International Property Tax Institute (IPTI), businesses in the UK were already paying one of the highest commercial property taxes globally. Consequently, the latest revaluation has only exacerbated this burden, leaving many business owners struggling to manage their rising costs.
Are You Overpaying on Your Harlow Business Rates?
Anthony Hughes, Managing Director of RVA Surveyors, explained:
“We estimate that as many as 50% of all commercial properties in England and Wales could be overpaying on their business rates.”
Many business owners and commercial property tenants in Harlow are unaware of their ability to review or challenge their council business rates. This means countless businesses could be overpaying thousands of pounds each year.
How RVA Surveyors Can Help
At RVA Surveyors, we have worked with over 47,000 properties to date, supporting businesses in identifying inaccuracies in their rateable values and securing reductions in their business rates. Whether you want to investigate the possibility of a liability reduction or need assistance with tenancy agreements, our team of experts is here to help.
A reduction in your business rates could provide a much-needed cash boost, offering vital savings to reinvest in your business. Additionally, securing backdated refunds can deliver long-term financial benefits.
Act Now and Take Control of Your Business Rates
Don’t let rising council business rates in Harlow hinder your business’s growth and stability. Speak with one of our specialists today to explore your options, challenge unfair assessments, and secure the savings your business deserves.
Contact RVA Surveyors now and take the first step toward fair and accurate business rates.
