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.
Lincolnshire County Council is the local authority responsible for the non-metropolitan county of Lincolnshire. Lincolnshire business rates are charged on most non-domestic premises. This includes most commercial properties such as manufacturing firms and restaurants, which make up the typical economy in the Lincolnshire region.
A typically large industry is the accommodation and food services sector, which can also be subject to business rates in Lincolnshire. Properties such as office buildings and warehouses in the accommodation and food services 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.
Lincolnshire also relies heavily on the retail sector, of which contributed to the estimated GDP (Gross Domestic Product) worth of £18 billion of the region in 2019. Lincolnshire business rates relief could apply to many businesses in the retail sector. Another large contributor to the economy in Lincolnshire is the manufacturing industry, which works with heavy machinery and lorry’s making deliveries across the UK. Your business rates in Lincolnshire 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 Lincolnshire. This means that unless RVA are able to find a reduction in your Lincolnshire 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 Lincolnshire and the rest of England and Wales.