Thurrock Business Rates
Business rates in Thurrock have risen significantly, with the office sector alone seeing increases of over 17% since the revaluation came into effect on 1 April 2023. Other commercial property types have also experienced substantial increases in rateable value (RV).
The Valuation Office Agency (VOA), responsible for setting rateable values, assessed all commercial properties in England and Wales at a combined total of £70 billion annually for the 2023 rating list. This assessment is projected to generate £30 billion in revenue this year, climbing towards £35 billion in the next financial year.
Thurrock Businesses Face Growing Financial Pressures
The International Property Tax Institute (IPTI) reports that UK businesses already faced some of the highest property taxes globally under the previous rating system. Now, the VOA’s latest revaluation has intensified the financial burden, leaving business rate payers in Thurrock feeling the pressure of what seems to be a relentless, upward-only tax.
This rise in business rates adds to an already challenging economic climate. Businesses in Thurrock are grappling with escalating costs, including rent, commercial mortgages, wages, and utilities. While finding savings may seem increasingly difficult, ensuring your tax is fair and accurate is one area that could provide much-needed relief.
Helping Businesses Save on Business Rates
Many business owners in Thurrock remain unaware that they have the right to review or challenge their business rates. Consequently, they could be overpaying thousands of pounds each year—money that could be redirected to other essential areas of their operations.
At RVA Surveyors, we specialise in uncovering potential savings, reducing liabilities, and securing backdated refunds. To date, we have assisted over 47,000 commercial properties across England and Wales.
Review Your Business Rates Today
A reduction in your business rates can provide an invaluable financial boost. Immediate savings could alleviate current financial strain, while backdated refunds offer a chance to reclaim overpaid funds from prior years.
Speak with one of our savings specialists to explore your options and ensure your business rates are working for you, not against you. Now is the time to act and secure the financial advantage your business deserves.
