The Client
Independent Vetcare Evidencia Ltd - Bristol. RV£14,000
This is one of many hundreds of vets under the same umbrella that we assess. It’s a small friendly veterinary practice located in a retail unit.
The Instruction
Many of the vets we deal with are located in retail units. But because the mode of use as a vet is often considered closer to that of an office use, many are assessed in line with other offices rather than shops.
This can sometimes throw up unrealistically high assessments in comparison with neighbouring retail units. When we review any assessment, we look for such anomalies to see if there is an opportunity for a reduction.
The Result
Here on analysis it was discovered that if the above was assessed in line with retail units, its assessment would be significantly lower. This is not always the case, so care must be taken.
An appeal was raised to change the method of valuation to the shop basis, but as expected this was initially resisted by the Valuation Office. As is often the case when the Tribunal date approaches the Valuation Office become more flexible and with the strong argument we put forward they agreed to amend the valuation to that of a shop.
This resulted in a reduction of the assessment from £14,000 to £7,900. This is a 44% reduction resulting in a saving of over £9,320 to the client.
