Delivering the lowest possible rates liability for our retail clients
RETAIL RATING & TAXATION
WHAT WE DO
On behalf of retailers we reduce costs, maximise tax reliefs and refunds, and manage risk through a comprehensive range of rating initiatives. These initiatives can be offered as individual services, most notably with AUDIT and Rates Management, or one cohesive service. We know that every client has different requirements and operates with different economic and environmental drivers. That is why we tailor our rating services to meet their individual needs.
Our objective is to deliver:- •The lowest possible rates liability •The reassurance that we are defending your interests through active management of your portfolio •The ability for you to budget with confidence when making property decisions Through a team of 35 rating surveyors based across our UK and Ireland office network we have long term track record of delivering results on single assets and national portfolios.
Reducing bottom line property costs With business rates forming an increasingly significant element of bottom line property costs we formulate a hard hitting appeals strategy which focuses on reducing annual payments.
Leveraging changing circumstances Changes which impact on the use or occupation of a property can give rise to a rates savings opportunity. By thinking creatively we ensure that all new savings opportunities are captured.
Efficiency review of occupation By reviewing previous trends we can analyse the occupational use of distribution sites and stores/department stores 12 months in advance. We can formulate a strategy with you to enable us to secure refunds against vacant space.
Allowances for vacant space Where a site is vacant or part occupied we can ensure that the vacant element is not liable for rates.
Deletions Where a site is unfit for occupation we will seek to delete the assessment from the rating list, removing the Business Rates liability. This may be during a fit out or refurbishment.
Completion notice appeals For unoccupied new build or previously deleted sites a Completion Notice must be served by the Local Authority before a Rateable Value is applied. These Notices are often served incorrectly and can be appealed. A successful appeal will result in a deferred liability.
Audit Through a dedicated rates audit team we recover historic overpayments whether they be due to error, retrospective taxation relief, or change brought about by legal recourse. CBRE audit service extends across wider property costs and taxes including capital allowances and utility payments. Accurate information ensuring our clients can budget for future rating costs with confidence.
Rates management and payment Whether it’s either checking rates demands prior to authorising payment or a more comprehensive rates management service, the CBRE team is able to help.
How you benefit The value of CBRE specialist expertise, market knowledge and relationships delivers results: •Reduced costs and cash recoveries •Informed decision making •Accurate payments and budgeting •Reduced burden of management
In this note, we set out the key issues which Brexit is already raising for retailers. Migration controls and currency movements may mean workers are less ready to work in the UK retail industry, which may increase time and cost. Currency devaluation will also generate more general cost inflation, though not everyone is a loser from these effects, and cost increases may spur yet more innovation in an already dynamic sector. The good news is that this year isn’t all about Brexit. The bad news is there are other more pressing concerns in 2017, with the rating revaluation and apprenticeship levy among the factors which retailers will have to grapple with. As always in retail, the winners will be the most agile and forward-thinking.