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.
Richmond upon Thames London Borough Council is the local authority responsible for the borough of Richmond upon Thames, in Greater London. Richmond business rates are charged on most non-domestic premises. This includes most commercial properties such as hotels and offices, which make up the typical economy in the Richmond region.
A typically large industry is the accommodation and food services sector, which can also be subject to business rates in Richmond upon Thames. Properties such as takeaways and pubs 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.
Richmond upon Thames also relies heavily on the professional, scientific and technical sector, which represents 16.2% of the roles in the borough. Richmond small business rates relief could apply to many businesses in the professional, scientific and technical sector. Another large contributor to the economy in Richmond upon Thames is the retail industry, which is responsible for 9,000 jobs in the region. Your business rates in Richmond upon Thames 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 Richmond upon Thames. This means that unless RVA are able to find a reduction in your Richmond 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 Richmond upon Thames and the rest of England and Wales.