With the various business rates reliefs made available to sectors such as retail, leisure and hospitality through the Expanded Retail Relief Discount, it has left many offices wondering whether any relief will be introduced for them.
CPRA alone have issued hundreds of appeals on behalf of clients for a ‘material change of circumstances’ due to the impact of Covid-19 on office occupiers. Altogether, around 150,000 U.K. businesses across the country applied for the reduction in business rates payable.
Due to the sheer volume of appeals, the Valuation Office Agency were rumoured to have come to an interim agreement to issue a 25% relief for offices that could see a £481m rebate for the office sector.
However, CPRA surveyors believe these claims were misleading and premature, and the Valuation Office Agency has since announced there are no specific agreements in place. Therefore, currently no support is being offered to the office sector, but the Valuation Office are certainly continuing discussions.
If you are a landlord or occupier requiring business rates advice or empty property rates advice, CPRA are specialists in all rating matters, including mitigation and appeal work. Feel free to contact our business rates department on 020 7770 8000 or email email@example.com.