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Method – additional office space created an unexpected issue

Our client Method are a fintech business who provide a cutting edge, online panel management software solution for many of the UK’s leading lenders, brokers, solicitors, accountants and the general public.

Due to the success of the business, Method expanded its offices and was advised that the additional 2 meeting rooms would not increase their business rates liability. However, when the revised bills arrived the council had taken away all small business rates relief and a bill totalling £4,308. (This was incorrect as small business rates relief is attributable to the main property where the other RV’s are less that £2,900 RV and the total is less than £15,000).

As with many cases, they did not find out until a couple of months later, when the council issued new rates bills.

Our solution was to merge the three assessments together to get a single rateable value less than £12,000 and so 100% small business rates relief was secured.

  • Original rateable value: £5,400
  • Original liability: £0
  • After office expansion rateable value:      £5,400, £1,800 and £1,575
  • New liability: £4,308
  • Liability following merger: £0

Niall Deas, Operations Director

“Taking additional office space was a necessity due to our business growing.

The additional business rates liability was unexpected. Biz Rates dealt with the problem quickly and efficiently.

We would highly recommend Biz Rates.”

Jonathan Weastell, Head of Rating

“These types of cases only have small RV’s but the impact can be significant, in this case having £0 to pay and then having £4,300 to pay following some poor advice, was a shock to the business.

Mergers of some property can be difficult following the Mazars lands tribunal case and in some cases liabilities can increase. Professional advice is always beneficial when considering property expansion.”

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