Lifting equipment supplier lowers business rates numbers with RVA Surveyors
Case study:
Lifting Equipment Supplier | South Yorkshire
Specialises in the supply of lifting gear and industrial equipment offering an extensive range of products, including lifting gear, load securing products, mechanical hoisting gear, and marine supplies.
KEY
FACTS
7 MONTHS
ACHIEVED IN
£4,460
SAVINGS
Warehouse
PROPERTY TYPE
The Client
Our client, located in Sheffield, England, specialises in the supply of lifting gear and industrial equipment. Operating from multiple sites across the UK, they offer an extensive range of products, including lifting gear, load securing products, mechanical hoisting gear, and marine supplies.
The company’s commitment to quality and safety naturally extended to ensuring they were paying accurate business rates, reinforcing their position as a trusted provider in the industry.
The Problem
The client’s properties were split across two separate assessments, resulting in an inaccurate valuation by the Valuation Office Agency (VOA) and potential overpayment on business rates. Managing two assessments added unnecessary complexity, increasing both paperwork and financial pressure.
Further investigation revealed that the rateable values (RV) did not accurately reflect the true age and condition of the buildings. The outdated assessment resulted in an inflated price per square meter (£/m²), meaning the client was overpaying. If left uncorrected, this would continue to impact their operational costs, so we moved to secure a fairer valuation.
The Solution
RVA Surveyors engaged with the client proposing a merge of the two assessments into a single, unified assessment. This approach aimed to streamline the administrative process and potentially reduce the overall rateable value.
We conducted a thorough inspection of the properties, considering factors such as their age, condition, and current market rates. Based on this analysis, we submitted an application for applying a lower rate per square meter (£/m²) that accurately reflected the properties’ true value.
The Outcome
Our intervention led to the successful consolidation of the two property assessments into one.
The adjustment to a lower £/m² rate, in line with the properties’ actual age and condition, resulted in a significant reduction in their business rates liability. This outcome provided the client with financial relief and a more accurate reflection of their property’s value.
Savings achieved: £4,460
Surveyor comment
“The split assessment was a significant issue for our client, causing both administrative complications and overpayment. By merging the assessments and adjusting the rate per square meter to accurately reflect the properties’ age and condition, we were able to secure a much fairer valuation.”
