Business rates specialist CVS has saved more than £30,000 for multiple housewares retailer ProCook, through direct challenges of its business rates assessment.
CVS instructed the 32-strong chain to appeal the business rates levied across its nationwide portfolio, leading to a major reduction in its bills.
CVS said: “This is a major saving on what is often one of the top three costs for businesses. CVS is arguing that many other retail businesses could similarly benefit, if they investigate their business rates liabilities.Currently, an appeal is the only way to potentially reduce rates liability, as ProCook found.”
CVS explained that its rating consultant Joe Thornborrow carried out a detailed inspection on one particular site to check that the various areas of the shop and the extent of the air conditioning therein had been accurately calculated by the VOA. A detailed analysis of the rent for the premises and nearby units was undertaken to ascertain that the correct level of value had been applied. A reduction to the overall rate per sq/m which had been applied to both the retail area and ancillary space was achieved, and as a result, the rateable value of the premises was reduced.
ProCook accountant Tom Owen said: “We pride ourselves on providing the best possible priced products to our customers. That’s why we instructed CVS to see if they could reduce our rates bills, to ensure our customers would not suffer with inflated pricing. We were incredibly pleased with the service and attention to detail delivered by CVS, and the results speak for themselves.”