Rate changes will leave pubs better off

South east accountants ‘optimistic’

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ANALYSIS has found that a large majority of Portsmouth pubs are eligible for business rate relief.

Research by CVS Business Rent & Rates Specialists found that there are 155 pubs in Portsmouth liable for business rates, of which 35 have a rateable value below £12,000.

This means that in just two weeks, under new measures with the doubling of the small business rates relief threshold, 23 per cent of all local pubs will no longer pay any business rates over the next five years.

Of the remaining 120 pubs, CVS say 99 have a rateable value less than £100,000 and are eligible to a £1,000 discount announced at the budget.

Just 21 of the biggest pubs in Portsmouth, which have a rateable value over £100,000, won’t receive the discount.

But CVS says that any business experiencing big hikes in business rates as a result of the revaluation will be able to access the £300m five-year hardship fighting fund – even pubs are set to receive the pub discount.

Mark Rigby, CVS chief executive, said: ‘Businesses should always make sure that they are paying fair and accurate rates liabilities, and if not, they should seek to challenge their property assessment by way of lodging an appeal with a professional agent.’