We have recently received the new and proposed rateable values following the Valuation Office’s revaluation and are pleased to announce that from April 2017, the proposed values are due to reduce at Pure Offices Oxford.
Based on the figures received by the Valuation Office, Rateable Values are due to fall by 25-30% on most offices at the centre which will be welcome news for occupiers who currently pay business rates at the centre.
Many occupiers are already benefiting from the government’s Small Business Rates Relief scheme and April 2017 brings further good news with the Small Business Rates Relief threshold increasing to include offices with a Rateable Value of £12,000 per annum. This will bring more occupiers into the scheme providing significant further savings.
We are pleased that the reduction in rateable vales proposed by the Valuation Office will have a direct impact on occupiers paying business rates and also that the Government has increased Small Business Rates Relief threshold in order to benefit millions more businesses nationwide