Contact Us 020 7292 4710 020 7292 4710

Welcome to
MORGAN PRYCE’S KNOWLEDGE CENTRE


Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.

Enter

Business rates ruling and the impact it has on occupiers

Business rates ruling and the impact it has on occupiers
5th June 2017

Business rates ruling and the impact it has on occupiers

The new business rates implementation which took place on April 1st 2017 has been well documented in the media, with many occupiers seeing increases in their business rates bills in the South East and Central London. Fringe areas such as Shoreditch and Clerkenwell have seen huge rental growths over the last seven years, and as such, business rates in these areas have risen considerably – upwards of 80%. However, two recent significant legal cases will undoubtedly impact how and when business rates are paid.

The Mazars Case (Woolway v Mazars, 2015) centred on the notion of quantum discount. Previously, companies that occupied more than one floor in a building benefitted from their business rates being calculated as a single unit, allowing for discounts of up to 15%. However, the Mazars ruling now means that each individual floor must be valued on a separate arrangement – i.e. the quantum discount has been dropped. This will have implications for any company occupying multiple floors in a single building, unless there is evidence that the floors are continuously linked.

The other, more recent case is Newbigin v Monk, which focused on whether business rates should be paid when extensive refurbishment or redevelopment works are being carried out. The court ruled in favour of SJ & J Monk, and now any property carrying out significant building works can be removed from the rating list. A small victory for developers.

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.


Login and get FULL AND FREE ACCESS to our unique Knowledge Centre.

Please note that we will not share your information with any third parties.

Forgot your password?

Please enter the email address used to create your account and follow the instructions to recover your password.

Didn’t receive an email? Check your spam inbox!

Create Your Account

Instructions have been sent to

Well Done!

Please check your inbox for a confirmation email.
You can manage your account details, email alerts and shortlists directly from your account.

or continue browsing

Loading...

Thank you for confirming your email address! You are now subscribed to our Newsletters.

By continuing your browsing on this site, you agree to the use of cookies used to perform visit statistics.

Accept