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.
Newark and Sherwood Council is the local governing body responsible for the local government district of Newark in Nottinghamshire. Newark business rates are charged on most non-domestic premises. This includes most commercial properties such as retail stores and offices, which make up the typical economy in the Newark region.
A typically large industry is the accommodation and food services sector, which can also be subject to business rates in Newark. Properties such as office buildings in this 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.
Newark also relies heavily on sectors such as manufacturing, accounting for 11.4% of the workforce in the area. Newark business rates relief could apply to many businesses in this region. Another large contributor to the economy in Newark is the transport and storage industry, which is responsible for providing 6,000 jobs. Your business rates in Newark 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 Newark. This means that unless RVA are able to find a reduction in your Newark 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 Newark and the rest of England and Wales.