The latest Business News Wales podcast is a one-off special feature where we speak to Andrew West, director at Cooke and Arkwright, Wales’ leading firm of Chartered Surveyors.
Andrew advises a range of businesses in Wales and England on their business rates and conducts business rate appeals on their behalf. Andrew is a member of the Welsh Ratepayers’ Forum, the RICS Rating and Local Taxation Policy Panel and is a spokesperson for RICS Wales on property taxation.
Business rates are the business equivalent of council tax. At more than 50p per pound rateable value it is the highest rate of corporate tax most businesses pay, based on the annual rental value (rateable value) determined by the Valuation Office Agency.
Business rates in Wales were devolved in April 2015 and there are some developing differences in the system compared to England.
Andrew demystifies business rates and talks us through everything we need to know: how they are calculated, the main differences between Wales and England and his views on the steps the Welsh Government could consider to fairly ease the burden for Welsh businesses.