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Trade News Archive 2010 January February March
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3rd March 2010
Backdated business rates appeal deadline approaching
The deadline for UK-based retailers wishing to appeal against backdated business rates is fast approaching, it has been warned.
The Forum of Private Business (FPB) has reminded business owners that there is less than one month remaining in which they can contest business rates incurred over the past five years.
It is estimated that 160,000 firms have won cases concerning the rateable value that has been in place since 2005.
However, while businesses who feel they have paid too much have been encouraged to appeal Andrew Bacon, the FPB's business rates adviser, insists that firms should ensure they are clued-up before they proceed with their claim.
He said: "The burden of explaining the details of what is wrong with the valuation is on the person making the appeal.
"It is therefore important to understand clearly how your ratable value has been calculated and why it might be wrong before making an appeal."
Businesses can appeal against backdated business rate if neighbouring properties have paid less or there has been a trade-effecting "material change" in circumstances since 2005.
© 2010
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