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2010-09-22 : Football Stadium Challenges Rates
Executives at Wembley Stadium are hoping to re-claim millions of pounds in business rates they believe they have overpaid. They are challenging the rateable value set on the stadium by the Valuation Office and are currently waiting for a tribunal date.
If successful, it is possible that the compensation will be backdated to March 2007, which is when the stadium opened. Winning the case will help convert the £12m loss predicted for this year into break even by 2014. If the appeal fails, the losses will have to be re-couped from another area.
In this current climate, many businesses are looking to save money by challenging their business rates. With the impending increase on the level for small business rate relief, there has never been a better time to review business expenditure.
Ruddle Merz have successfully appealed tribunal cases for clients, resulting in savings amounting to thousands of pounds. If you think your business could benefit from a free Business Rates Review, contact us on 0800 883 0353 or email us at enquiries@ruddlemerz.co.uk.
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