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.
Monmouthshire County Council (Cyngor Sir Fynwy) l is the local governing body responsible for the principal area of Monmouthshire – a unitary authority in Wales. Monmouthshire council business rates are charged on most non-domestic premises. This includes most commercial properties such as restaurants and warehouses, which make up the typical economy in the Monmouthshire region.
A typically large industry is the retail sector, which can also be subject to business rates in Monmouthshire. Properties such as shops and warehouses in the retail 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.
Monmouthshire also relies heavily on the manufacturing sector, which helped to contribute to a GDP (Gross Domestic Product) of £2.4 billion in 2019 in the Monmouthshire area. Monmouthshire business rates relief could apply to many businesses in the manufacturing sector. Another large contributor to the economy in the Monmouthshire area is the accommodation and food services industry, which represents 9.2% of the workforce in the region. Your business rates in Monmouthshire 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 the Monmouthshire area. This means that unless RVA are able to find a reduction in your Monmouthshire 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 Monmouthshire and the rest of England and Wales.