Posted on 16 March 2017
If you are a developer who has undertaken large scale refurbishment or re development of commercial buildings in the last 2 years then a recent decision by the Supreme Court may well work in your favour.
The case, Monk v Newbigin concerns the Valuation of premises under repair and the decision reached by the Supreme Court reverses how properties undergoing refurbishment or redevelopment should be valued.
The implications of this decision are that there is an opportunity for developers who have been paying business rates during the building works to recoup money paid.
We are working with Business Rates specialist Alastair Fearn at FHP Property Consultants to help our clients recover over paid monies. The ability to recover overpaid business rates is however time limited.
All applications must be made by 31 March 2017.