Has your property been affected by a change in circumstance?

Thursday, August 24, 2017

A Material Change in Circumstance (MCC) is when the Rateable Value of your property is no longer accurate because of internal or external influences that have affected your ability to conduct business as usual or has had an adverse effect on your trade.

Your Rateable Value is set by the Valuation Office Agency (VOA) based on the open market rental value. It is assumed by the VOA that this is correct for the WHOLE Rating List, but in many instances, an MCC, whether it is physical or not, can have an impact on your business.

So what could an MCC constitute of?

• Major nearby demolition/construction works

• Road closures and maintenance

• Opening of superstores

• Competitor openings

• Local business closures

• A change in use of your property

Next Steps

If your business is currently suffering from an MCC then we want to hear from you. Using our expert knowledge and unrivalled database of comparable evidence throughout the country, CVS will thoroughly investigate your MCC to see if there is potential for a reduction in your business rates.

When contesting your business rates for an MCC, the impact of the MCC must still be ongoing at the point of the ‘Challenge’ being submitted. Therefore, there is no time to waste in seeking CVS’ expert advice.

To date, we have saved clients £9.3million in MCC appeals on the 2010 Rating List alone.

To find out if an MCC is possible for your business premises, contact the team directly on mcc@cvsuk.com