Tower Hamlets Trading Standards has warned businesses to be be careful about companies offering to help them get their rates reduced in exchange for large fees. Some may be genuine but others will trick businesses with the subtleties of rateable value.
Businesses can appeal against business rates themselves. For more information on how to do this contact: Revenue Services on 020 7364 5010, Minicom: 020 7364 4791, businessrates@towerhamlets.gov.uk Details are also found on the valuation office website at www.voa.gov.uk and at www,mybusinessrates.gov.uk Remember if you do appeal your rates could go up as well as down.
Trading Standards advise businesses to be suspicious of firms who cold call offering to do a rating appeal. Their contracts are often carefully worded and don't match up to verbal promises the salesperson makes. Once you've signed and paid or agreed to pay you will have no automatic right to cancel. At the very least, read and consider any proposed contract carefully before signing.
John McCrohan, Trading Standards Service Manager said "We advise businesses to be cautious of claims from companies that they can obtain large reductions on business rates, especially if they are not prepared to put the details in writing". He went on to say "Always be wary if asked to pay substantial amounts of money up front for something that businesses can do for themselves".