Time is running out for hotels to reclaim overpaid business rates

03 February 2010 by
Time is running out for hotels to reclaim overpaid business rates

Hotels are being warned that they have only weeks left to reclaim tens of thousands of pounds each in overpaid business rates from the last five years.

Manchester-based Commercial Valuers and Surveyors (CVS), which has helped its hotel clients save over £7m by challenging the amount they pay, said that hoteliers were spending an average of 13.4% per year too much on their business rates. The deadline for reclaiming overpaid business rates is 31 March.

Nearly 13,500 hotels were assessed during the 2005 Ratings List, with a total rateable value liability of £947m, giving an average rateable liability of £157,646. Successful appeals result in typical savings of more than £21,000.

By working with CVS on appeals to the 2005 Ratings List, hotels which made significant savings include the Lanesborough, London, which saved more than £1m, and the Donnington Grove Hall Hotel, Newbury, Berkshire, which received a 30% reduction in its rateable value from £185,000 to £126,000.

"Business rates are a major expense to any company, but it is often the case that the majority of commercial property occupiers are unaware that these rates can be challenged," said Paul Burnett, CVS head of rating.

"However, from 31 March, your rate to claim back overpaid business rates for the last five years will end when the next Rating List is introduced. This means that the clock is definitely ticking and time is running out to lodge an appeal against your rateable value before it is permanently altered.

For further advice and guidance on how all hospitality businesses can reclaim business rates, visit www.cvsuk.com or call 0161 291 0330.

Hospitality firms face significant rises in business rates >>

Hospitality industry gives muted reaction to business rate reprieve >>
Half of rural pubs missing out on business rate relief >>
By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs

Blogs on Caterersearch.com](http://www.caterersearch.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking