Article DetailsUK Pub Rateable Values Dont Rely on Your Local Council to Reduce your Pubs Business Rate |
| Date Added: April 28, 2009 12:33:47 PM |
| Author: Ian Brown |
| Category: Real Estate Press Releases |
| Check out your pubs rateable value (http://www.voa.gov.uk) The website states its case as follows;Rating is a property tax based on rental value. Whether the property is a shop, a factory or a pub, various elements can affect its value upwards or downwards. The more popular a pub is, and the better the facilities, then the greater the potential for trade and the higher the rental value is likely to be. Events and facilities, such as quizzes, darts and pool, either provide an indication of the popularity and therefore likely potential trade of the pub or constitute facilities likely to enhance trade. They have been recorded and taken into account when valuing pubs since 1990, and are already reflected in current rateable values. This method is agreed with the industry and is a tried and tested way of valuing pubs. So how does the loss of earning following the smoking ban or the costly investment in outside 2 sided buildings to provide an area for smokers impact on the rateable value of your pub? All that is clear from the website is that certain rural businesses, such as village shops and petrol stations, may be able to claim rate relief and you may be able to get hardship relief if you are finding it difficult to pay. This is normally only available to businesses that are important to the local community.As you would find it difficult to change the use of a village pub due to its importance in the village, it seems only fair that to keep the pub open, business tax relief should be due?The smoking ban’s effect on business could be taken into account as well as any other changes in the area, such as the closure of other businesses.You can query, or make an appeal to reduce the rateable value of your commercial property in the form of a proposal to the Valuation Office Agency. Paramount Investments are specialists in sourcing freehold and leasehold pubs for sale and other pub company or brewery investment opportunities in England, Scotland and Wales for potential property investors.
Paramount Investments 150 West End Lane Web: http://www.paramount-investments.co.uk |
