With newly calculated Business Rates just weeks away from coming into effect, garden centre property specialists Malcolm Scott Consultants are urging any operators who have not carefully reviewed their new rateable values to take immediate action.
Further to the Valuation Office Agency (VOA) issuing drafted rateable values for all commercial properties in England and Wales, garden centres and farm shops are still untangling the red tape to determine the full impact the new values will have on their businesses when they come into effect on April 1st.
Chris Primett, Director, said that operators were finding the messages surrounding the new values and support available confusing.
“Operators throughout the sector have been trying to unravel mixed messages for some time now, with headline-grabbing tax cuts being the topic of the day one week, and warnings of sharply increased rateable values the next,” he said.
“This is something we have been supporting and advising our clients on for a matter of months, but with the ever-evolving challenges facing the sector at present, it is unfortunately a fact that some businesses have still not taken the time to review the changes to their rateable values or engaged professional support to do so on their behalf.
“Since 2020, most garden centres and farm shops have benefitted from some level of Retail, Hospitality and Leisure (RHL) relief, which will become a thing of the past from April 1st. While the government confirmed lower business rates multipliers for the Retail sector and claims they will be the lowest tax rate in decades, in some cases these are be substantially offset by dramatically higher rateable values,” he said.
Chris added that some centres have found their bills have trebled, and that additional measures introduced by the government to soften the blow by gradually phasing in the increases over a three-year period were of limited consequence.
“For garden centres and farm shops that have already weathered a pandemic, an energy crisis, a string of difficult trading seasons and increased National Insurance and minimum wage, those that have not fully addressed the impact of the 2026 revaluation face yet another significant challenge to financial planning.
“Operators who have not yet reviewed their new rateable values, or believe their property details are incorrect, should seek professional guidance to challenge and rectify the information before it is too late,” he said.
For support, contact Chris at chrisp@malcolmscott.co.uk.
