Method – additional office space created an unexpected issue
Our client Method are a fintech business who provide an online panel management software solution for many of the UK’s leading lenders, brokers, solicitors and accountants.
Due to the success of the business, Method expanded its offices and was advised that the additional 2 meeting rooms would not increase their business rates liability.
However, when the council issued new rates bills a few months later the council had taken away all small business rates relief and Method received an unexpected bill totalling £4,308.
After contacting Biz Rates we recognised this revised bill was incorrect. We knew that small business rates relief is attributable to the main property where the other RV’s are less that £2,900 RV and the total is less than £15,000.
Our solution was to merge the three assessments together to get a single rateable value less than £12,000 and so 100% small business rates relief was secured.
- Original rateable value: £5,400
- Original liability: £0
- After office expansion rateable value: £5,400, £1,800 and £1,575
- New liability: £4,308
- Liability following merger: £0
Niall Deas, Operations Director
“Taking additional office space was a necessity due to our business growing.
The additional business rates liability was unexpected. Property Savings Group dealt with the problem quickly and efficiently.
We would highly recommend Property Savings Group.”
Jonathan Weastell, PSG
“These types of cases only have small RV’s but the impact can be significant, in this case having £0 to pay and then having £4,300 to pay following some poor advice, was a shock to the business.
Mergers of some property can be difficult following the Mazars lands tribunal case and in some cases liabilities can increase. Professional advice is always beneficial when considering property expansion.”
