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.
South Norfolk Council is the local governing body responsible for the local government district of South Norfolk. South Norfolk business rates are charged on most non-domestic premises. This includes most commercial properties such as hotels and warehouses, which make up the typical economy in the South Norfolk region.
A typically large industry is the construction sector, which can also be subject to business rates in South Norfolk. Properties such as warehouses and offices in the construction 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.
South Norfolk also relies heavily on the retail sector, which contributed to the 4.8% GDP (Gross Domestic Product) growth per year in 2018 and 2019 in the South Norfolk area. South Norfolk business rates relief could apply to many businesses in the retail sector. Another large contributor to the economy in the South Norfolk area is the manufacturing industry, which represents 7.7% of employment in the region. Your business rates in South Norfolk 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 South Norfolk area. This means that unless RVA are able to find a reduction in your South Norfolk 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 South Norfolk and the rest of England and Wales.