CVS Business Rates Reduction for LHoist Quarry

We were extremely satisfied with the service provided by CVS which ultimately resulted in an RV reduction of £65,000.

Alistair Lough, Business Support Services & Finance Director, Lhoist

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Lhoist

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Lhoist

Savings of £212,355

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“We were extremely satisfied with the service provided by CVS which ultimately resulted in an RV reduction of £65,000. Throughout the process, we were kept informed of the appeal progress and the possible outcomes. We would be happy to retain CVS in the future.”

Alistair Lough, Business Support Services & Finance Director, Lhoist

Lhoist UK produces the purest lime available in the UK and delivers high quality lime based products to both UK and international customers. Today it represents a formidable worldwide producer of lime with significant Research and Development operations. Lhoist were concerned about the rising cost of their business rates at their Buxton plant in the UK, and instructed CVS to assess the property.

Results

On completion of a full valuation of the site in Buxton, the CVS surveying team argued for allowances on the building due to the age and obsolescence of many individual items. The Valuation Office Agency (VOA) accepted this argument and deemed the Rateable Value too high, reducing it by £65,000. This is a fantastic reduction for the business and is already producing huge savings for Lhoist across the seven year Rating List.

CVS Comment:

“Lhoist operate a large limestone quarry with a lot of specialist plant and machinery utilised in the processing of stone. CVS Surveyors have a thorough knowledge of this equipment which enables them to accurately value this major element of the Rateable Value. In the case of Lhoist the CVS Surveyor was able to demonstrate several examples of where the specialist plant and machinery were over-valued by the VOA and achieve a significant reduction of £65,000.”

Steve Plowman, Rating Director, CVS