Vale of White Horse Business Rates
Business rates in the Vale of White Horse have skyrocketed, with the industrial sector alone seeing a staggering 32% increase since the April 1st, 2023 revaluation. Numerous other commercial property types also experienced significant hikes in rateable value (RV).
The Valuation Office Agency (VOA), responsible for setting RVs, has valued commercial properties in England and Wales at a collective £70 billion annually. This valuation is projected to generate £30 billion in revenue this year, rising to £35 billion in the next financial year.
Increasing Pressures for Local Businesses
The International Property Tax Institute (IPTI) highlights that UK businesses already pay one of the most expensive property taxes globally before this revaluation. With the VOA’s latest updates, businesses in the Vale of White Horse are now grappling with even steeper costs.
In addition to surging business rates, companies in the Vale of White Horse are struggling with rising expenses, including rent, mortgages, wages, and utilities. Ensuring your business rates are accurate and fair can provide a much-needed avenue for savings in today’s economic climate.
Are You Overpaying on Vale of White Horse Business Rates?
Businesses across the Vale of White Horse are feeling the effects of these RV increases. Average business rates in the area rose by 18% in 2022 alone compared to the prior year. RVA Surveyors’ Managing Director, Anthony Hughes, estimates that as many as 50% of commercial properties in England and Wales may be overpaying on their business rates.
How RVA Surveyors Can Help Reduce Your Business Rates
With a track record of helping over 47,000 commercial properties, RVA Surveyors specialise in uncovering potential savings and securing backdated refunds for businesses. Whether you are a property owner or tenant, their expertise ensures that your business rates align with a fair valuation.
Contact RVA Surveyors today and take control of your business rates.
