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."