Forum of Private Business (FPB) urges companies to assess whether their rate bills over the past five years have been set too high after around 160,000 small businesses win rebates.
Any business owners who believe they have been overcharged for their rates since the last revaluation in 2005 have until March 31 to appeal. If their appeals are successful, the FPB believes many firms could receive rebates worth thousands of pounds.

According to the organisation, around 160,000 small business have already won backdated reductions in their rates since April 1, 2005, when the current rateable period began. The FPB believes many more firms may still be eligible for a reduction without realising it.

The organisation sets out two main grounds on which businesses can appeal against their rateable value: if a business is paying more than their neighbouring properties, and if there has been a 'material change' in their circumstances since 2005 - a change in the company's immediate surroundings that has had a detrimental effect on trade..

The Valuation Office Agency's website www.voa.gov.uk allows business owners to find out what neighbouring premises pay and whether or not they have appealed against the amount.

Examples of 'material changes' that can be used in an appeal include streets being closed off due to roadworks, a high proportion of empty shops or a change in the size or use of the claimant's premises itself.

Business may also take the opportunity to appeal against their forthcoming business rates, which will come into effect in April. Many firms will see their rates soar as rateable values were controversially re-assessed just before rents and property values were sent tumbling by the credit crunch.

FPB rates adviser, Andrew Bacon of Leaseholders United said: "Appeals can be made free of charge, and making an appeal is fairly straightforward. Once made, there is a discussion period where the person making the appeal explains to the Valuation Office Agency what they think is wrong. If no agreement can be reached, the appeal goes to tribunal but that only happens in about one in every few hundred cases."

He added: "The burden of explaining the details of what is wrong with the valuation is on the person making the appeal. It is therefore important to understand clearly how your rateable value has been calculated and why it might be wrong before making an appeal."

For more information call the FPB on 0845 612 6266 or go to www.fpb.org