Tunbridge Business Rates

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.

Tunbridge Wells Borough Council is the local governing body responsible for the borough of Tunbridge Wells. It is comprised of 20 wards, represented overall by 48 elected councillors. Tunbridge 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 Tunbridge Wells region.

A typically large industry is the financial and insurance sector, which can also be subject to business rates in Tunbridge Wells. Properties such as offices in the financial and insurance 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.

Tunbridge Wells also relies heavily on the retail sector, which certainly the GDP (Gross Domestic Product) growth of 2.1% between 2018 and 2019 in the Tunbridge Wells area. Tunbridge business rates relief could apply to many businesses in the retail sector. Another large contributor to the economy in the Tunbridge Wells area is the professional, scientific and technical industry, which accounts for 9.6% of employment in the area. Your business rates in Tunbridge Wells 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 Tunbridge Wells area. This means that unless RVA are able to find a reduction in your Tunbridge 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 Tunbridge Wells and the rest of England and Wales.

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Tunbridge Wells July 4, 2022