All organisations face the regular task of auditing, paying and recording the payment of every business rates demand they receive. There is no universal procedure for doing this and as a result, many do not do it well and overpayments are commonplace. Business Improvement District levies and the introduction of local Business Rate Supplements in April 2010 has added further management and budgeting problems to the process.
Over the last five years we have recovered more than £125m in refunds for our clients, by auditing their rates bills, correcting billing errors and overpayments for other reasons and collecting refunds from local councils.
Our Rates Payment Management Services manage the entire rates payment process, including auditing bills, managing payments and proactively recovering refunds - we have invested over £1m in a sophisticated, bespoke rating software package to enable us to supply proactive services, speed up refunds enhancing cash flow and supplying tailored financial reports to suit our clients' needs. Gerald Eve is the largest outsourced ratepayer responsible for managing over £650m of our clients’ rates liabilities.
The sheer administrative burden associated with business rates is staggering. For a portfolio of a 100 properties you can expect to deal with around 1,250 related tasks per annum. Demands, payments, remittances, budgeting reports and updating changes during the year (relocations, vacant premises, refurbishments to name a few) mount up.
Rather than making monthly payments to some 350 local authorities, as well as discharging an increasing number of Business Improvement District levies, clients just need to make one monthly lump sum transfer to us. Our service removes the entire administrative headache.
Rating revaluation 2010 >>
Empty property rates >>
Business rate supplements >>
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