For many organisations, the phrase "business rates review" is immediately associated with recovering overpayments. While identifying historic overpayments can be an important outcome, it is only one part of the picture.
A historic business rates review can also provide reassurance that historic liabilities have been calculated correctly based on the information, legislation and property records that applied at the time. Whether discrepancies are identified or not, an independent review can help organisations better understand their historic business rates position.
Business rates liabilities are influenced by a combination of property information, valuation data, billing adjustments and reliefs. As property portfolios evolve, understanding how these factors have interacted over several years can become increasingly complex.
A historic review provides an opportunity to examine historic liabilities independently, helping organisations gain greater confidence in the accuracy of previous charges and the information on which they were based.
For finance, estates and property teams, reassurance can be just as valuable as identifying an adjustment.
Where no discrepancies are found, organisations gain confidence that their historic liabilities have been independently reviewed. Where differences are identified, they can be considered further through the appropriate statutory processes, where applicable.
In either case, the outcome is a clearer understanding of historic business rates liabilities.
Business rates often represent a significant property cost. Like any material expenditure, there is value in understanding how historic liabilities were calculated and whether they align with the information available at the time.
A historic review can form part of wider governance processes, providing additional assurance that historic records and supporting information have been considered carefully.
While the possibility of recovering historic overpayments often prompts organisations to commission a review, many also value the reassurance that comes from independently validating historic liabilities.
This can provide greater clarity around previous business rates positions, support internal governance and help organisations better understand their historic property information.
Inform specialises in reviewing historic business rates bills. Our reviews examine historic billing records, property information and supporting evidence to confirm whether historic liabilities were calculated correctly and, where appropriate, support the recovery of historic overpayments.
Our work relates to historic business rates liabilities and is complementary to the services provided by finance teams, accountants and rating agents.
If you would like to discuss a no obligation historic business rates review, please contact info@inform.services.
This information is correct at the time of publication and is based on current guidance.
