Be wary of rogue business rates agents
![Image to represent Be wary of rogue business rates agents](https://cdn.informanagement.com/imglib/3aff1ac9-ded9-41c1-9727-7382dcf31fc6.jpg?width=840)
The government Valuation Office Agency have issued the following warning to business owners who may have received unprompted approaches by an agent offering to negotiate a reduction in their business rates bill.
The Valuation Office Agency (VOA) is urging businesses to protect themselves from rogue business rates agents.
New rateable values for business properties came into effect in April 2023. Councils used these new values to calculate business rates bills. Businesses can challenge their valuation if they think it’s incorrect. They can use a rating agent do this.
But some rogue agents submit inaccurate information. This could result in penalties or increased rates bills. Be cautious of anyone who guarantees they can secure big business rates reductions.
Gary L Watson, Institute of Revenues, Rating, Valuation Chief Executive, said:
“We strongly advise businesses do their own research and explore different options before appointing an agent. Make sure you choose your own agent – don’t let an agent choose you."
No Advice
The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.
Information
The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.
Share this article