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.
Oxford City Council is the local authority responsible for the one of the five districts for the city of Oxford. Oxford business rates are charged on most non-domestic premises. This includes most commercial properties such as office buildings and hotels, which make up the typical economy in the Oxford region.
A typically large industry is the accommodation and food services sector, which can also be subject to business rates in Oxford. Properties such as pubs and restaurants 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.
Oxford also relies heavily on the professional, scientific and technical sector, which contributed to Oxford’s overall estimated GDP (Gross Domestic Product) of £7.3 billion in 2019. Oxford business rates relief could apply to many businesses in the professional, scientific and technical sector. Another large contributor to the economy in Oxford is the retail industry, which represents 7.3% of the roles in the region. Your business rates in Oxford 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 Oxford. This means that unless RVA are able to find a reduction in your Oxford 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 Oxford and the rest of England and Wales.