Southend Business Rates
Business rates in Southend have risen sharply following the revaluation on 1st April 2023. Office sector properties alone have seen increases of over 17%, with other commercial property types facing similarly steep hikes.
The Valuation Office Agency (VOA) sets these rateable values (RVs) and estimated that commercial properties across England and Wales are now valued at £70 billion annually. These changes are expected to generate £30 billion in tax revenue this year and increase to £35 billion in the next financial year.
Businesses Struggling with Rising Costs
Even before the revaluation, the International Property Tax Institute (IPTI) highlighted that UK businesses already faced the highest property taxes globally.
With the new increases, business rate payers in Southend are grappling with added pressures from rising rent, utilities, wages, and commercial mortgage costs. Ensuring your business rates are accurate and fair is one way to alleviate some of these financial burdens.
Southend Businesses at Risk of Overpaying
Southend’s businesses are among the thousands across England and Wales that have experienced dramatic increases in rateable values. RVA Surveyors estimate that up to 50% of all commercial properties could be overpaying, meaning many businesses may be losing out on thousands of pounds every year.
Unfortunately, many property owners and tenants are unaware that they can review or challenge their business rates, potentially unlocking much-needed savings.
Get in Touch with RVA Surveyors
RVA Surveyors are experts in identifying inaccuracies in rateable value assessments and securing reductions for businesses. With a proven track record of reviewing over 47,000 properties, RVA has helped businesses across the UK achieve significant cost savings and even claim backdated refunds.
Don’t let inflated business rates drain your resources.
Contact RVA Surveyors today to find out how much you could save. With the right support, your Southend business could unlock vital financial relief to support growth and stability.
