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Independent wine merchants urged to appeal soaring business rates in hardest hit areas

Independents have the chance to have their say on local business rates

Independent wine merchants and high street retailers are being urged to appeal soaring business rates before a March 31 deadline that will ensure the rates are set until 2017.

Commercial property advisor, Colliers International, has published a list of the top 10 locations across the UK that have been hardest hit by soaring vacancy rates and stalling rental values, where they believe retailers are most likely to benefit from lodging an appeal. These areas have seen the largest increase in vacancy rates between 2010-2014, while rental values have decreased significantly.

The locations includes Telford, Boston, Swansea, Merry Hill near Dudley, Neath, Poole, Aylesbury, Barnstaple, Marlow and Swindon.

The last revaluation of business rates was carried out in 2008 by the Valuation Office Agency, but is set to last until 2017 as the 2015 revaluation was deferred in the chancellor's Autumn Statement. The statement also introduced a deadline for appealing business rates valuations.

John Webber, head of rating at Colliers International, said the postponement of the revaluation meant retailers and other businesses will continue to pay rates based on pre-recession property values, decimating businesses in the locations hardest hit. "The research is compelling," he said. "It isn't just a smoking gun - it is two smoking barrels of evidence that the Valuation Office Agency (VOA) should be happy acting on to reduce the rateable values of retail units in those worst affected towns."

The British Retail Consortium  said the system needs for rent valuation needed to be fundamentally reformed. More frequent revaluations would lead to fewer appeals, it said, as currently, an appeal is required to access the information that serves as basis to valuation. 

"A clear consensus has emerged across businesses of all sizes and from all sectors - our current outdated system of business rates isn't just a retail problem, but a business problem," a spokesman said. "If the Valuation Office Agency shared more information explaining how they arrived to a particular assessment there would be fewer appeals."

The 10 areas most likely to look at a business rate cut are: