Project summary
- Following the Upper Tribunal Decision, we were instructed by Dainton Group Services to investigate the rating assessments on their storage land to ensure they were accurate
- The decision gave a definitive valuation approach for land used as storage which also comprised container storage
- It was decided that the gross land area should be valued with an addition for each container calculated by decapitalising their cost
Solution
- A desk top review of their entire portfolio was undertaken where it became apparent that large savings could be made particularly if check submissions were issued before the close of the 2017 Rating List
- Of their 14 sites 7 were identified as being affected by the UT decision. Check submissions were then made to the Valuation Office Agency which contained appropriate Valuations
Benefits
- Based on the information we provided the VOA agreed to reduce the Rateable Values on the 7 properties which led to a total refund for the 2017 list (6 years) of over £600,000 with future savings for the 2023 list (3 years) estimated at £350,000
