Business Rates (also known as non-domestic rates) are a tax levied by the government on all commercial premises. The Rateable Value of a property is set by the Valuation Office Agency (VOA) and collected by your local authority.
Colchester Council is the local governing body responsible for the government district and borough of Colchester in Essex. Colchester council business rates are charged on most non-domestic premises. This includes most commercial properties such as restaurants and offices, which make up the typical economy in the Colchester region.
A typically large industry is the education sector, which can also be subject to business rates in Colchester. Properties such as office buildings in the education sector can be incorrectly valued as usually their use can change over many years, and information may not have been updated with the VOA. This can have a huge impact on business running costs, as business rates can be in the top five costs for a business.
Colchester also relies heavily on the tourism sector, which in 2017 earned (through visitor spending) £276.6 million. Colchester council business rates relief could apply to many businesses in the tourism sector. Another large contributor to the economy in Colchester is the human health and social work industry, which in 2017 employed over 13,000 people. Your business rates in Colchester can be affected by any disruption or adverse access to your property and backdated savings could apply to the beginning of the Ratings List.
RVA Surveyors offers a ‘no reduction, no fee’ service, giving reassurance to all businesses when tackling their business rates in Colchester. This means that unless RVA are able to find a reduction in your council business rates, there is no cost to the business. Whether commercial property owners or tenants, RVA are able to help business rates payers achieve reductions in their business rates across Colchester and the rest of England and Wales.