Client story

How good practice can minimise business rates exposure

Focus was on efficiency, practising good rating law and meeting legal requirements

Location

London, UK

Square Feet

600,000

When our client, a global corporate, wanted to centralise to a UK headquarters, in London, our role was to ensure we could minimise business rates exposure, while ensuring all legal requirements were met.

How we worked together

These actions resulted in our client paying no more in business rates than was legally due.

Tim Beattie, JLL UK’s Lead Director, Rating

Working in partnership with our client, we were tasked with providing strategic advice and managing the day to day actions required as our client, a global corporate, moved from several offices to a new 600,000 sq ft base in central London.

It was important to co-ordinate the move to ensure we had a planned approach, which limited liabilities.

To achieve our ambition, we spent almost a year in detailed talks with each billing authority, where the company had bases, and the valuation officer responsible for central London.

As a result, we agreed the values placed on the new office, and the date of new assessments, ensuring it corresponded with the vacation of existing buildings. This co-ordinated approach limited liabilities.

Resolution

Our detailed negotiations ensured our client paid only business rates legally due and allowed them to accurately budget for their rate liability, removing any future uncertainty.

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