Reductions in Business Rates

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Companies are likely to be approaching you already knowing that you are entitled to this saving.

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As part of the budget in October 2021, it was announced there would be a reduction in rates for a three-year-period, dating back to the pandemic and including the current financial year.

We have seen an influx of queries regarding companies approaching our clients with the promise of an assessment of their business, and after which, the company will take the appropriate steps to reduce the business rates paid by our client.

However, these companies are likely to be approaching you already knowing that you are entitled to this saving. They play on assumption that many businesses have not claimed their entitled saving and they must action this on your behalf.  

Were you to submit the NNDR3 form to the Department for Levelling Up, Housing and Communities  yourself, you would receive the same reduction, which is why such companies offer to act on a “no win, no fee” basis as there is every likelihood they will achieve a saving if a business has not directly applied themselves. 

As the terms of an agreement between two companies do not have to be explained in the same way as they would be between a consumer and a company, these companies rely on businesses doing their own due diligence before signing an agreement.

The agreement terms will probably simply refer to savings or similar vague wording. By filling in a straightforward form, these companies will achieve a refund from the specified period, whether it was due to your business or not, and they will be entitled to bill you as they were acting as instructed, on your behalf.

Their bill will be a percentage of your reimbursement, usually between 25% and 50%, which is a considerable sum.

So, before you are seduced by an offer to see if these external companies can achieve a saving for you, with the proviso that you pay nothing if they can’t, take a step back and first check if this is something you can do yourself.

The deadline to apply for this reduction is 30 November 2022, so go to: https://www.gov.uk/contact-your-local-council-about-business-rates and complete the form.

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Darren FletcherLegal AdvisorRead More by this author

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