Shropshire Star

Ludlow businesses 'set for rates fall' after re-valuation

A rates re-valuation of a number of South Shropshire businesses has seen an average reduction of nearly nine per cent, according to a business group.

Published
Ludlow town centre

Tish Dockerty, Ludlow Chamber of Commerce Secretary, has welcomed the preliminary information from a review carried out by the Valuation Office Agency, which she says could save some businesses thousands of pounds.

The review took place earlier this year when the agency visited some of the town's businesses.

Ludlow MP Philip Dunne said he was pleased the agency had acted on the concerns raised by firms.

He said: "I am very pleased that after some months working with Ludlow Chamber of Commerce and other local campaigners, the Valuation Office Agency have acted on our concerns and have confirmed they will be writing to individual businesses in Ludlow whose rateable values they have reviewed.

"I have sought further information from the VOA for clarification. But initial figures and feedback from businesses to the Chamber of Commerce indicate some welcome reductions. This is encouraging progress, and should help reduce the burden of business rates on many Ludlow businesses."

Data protection rules mean the Valuation Office Agency cannot yet reveal the extent of their review, but local businesses whose ratings have been reviewed will be notified individually.

Mr Dunne said that preliminary publicly available information reveals that on average, the businesses in Ludlow which have had their ratings reviewed have received an 8.8 per cent reduction in their assessed new rateable value, compared to earlier this year.

However, there is understood to be a considerable range from two per cent to 26 per cent reductions in some cases.

The reductions in rateable values also indicate some businesses will move from receiving only transitional small business rate relief, to full small business rate relief, taking them out of paying business rates altogether.

Ms Dockerty added: "Ludlow Chamber of Commerce are thankful to local independent consultant Tom Dixon and MP Philip Dunne for their support and advice on seeking changes for independent traders in Ludlow.

"Preliminary figures suggest that amongst the premises, the average reduction is around nine per cent with up to 26 per cent reduction, making a difference of several thousand pounds to some local businesses.”