Retail took a big hit in 2022 with 17,145 shops closing, a 50% increase on 2021. Large and small names alike were effected: Joules, M&Co and T M Lewin were hit hard, totalling 6,055 shop closures and 151,500 jobs lost. 1/3 of these closures were due to insolvency and the rest because of need to … Continue Reading
The disputed rates in Newbigin (Valuation Officer) (Respondent) v S J & J Monk (a firm) (Appellant) relate to building works in 2012 and the question was whether the rating list could give the building a £1 nominal value or whether it had to assume a market value based in an assumption of repair. The … Continue Reading
Following our recent update on business rates, we are warning developers to look at their budgets for statutory compensation that may be due at the end of a 1954 Act protected tenancy because of the VOA’s reassessment of rateable values, which comes into force next April 2017. The timing of the notices served to end the … Continue Reading
There have been a number of developments on business rates which affect investment management and lettings to corporate occupiers. Exactly what use qualifies as charitable and benefits from reduced rates is clearer, as is what qualifies as a business unit in a multi-let building plus there is disturbing news on rates appeals. FOR FURTHER INFORMATION … Continue Reading