A survey carried out by online accounting service, Crunch.co.uk, has found that the average rateable values of commercial property can vary by as much as £114,000 between regions. Westminster in London has the most expensive business rates, averaging at £123,600, while Tendring in Essex has an average business rate of just £9,300; that’s 13 times lower.
The survey was based on the latest 2010 figures from the Valuation Office Agency (VOA). Average rates for commercial premises across England stand at £32,800, up from £27,000 in 2005. Unsurprisingly, the highest rates are mainly found in the London and South East regions, while the South West offers some of the most affordable rates.
Darren Fell, of Crunch.co.uk said “Although local authorities take these figures set by the VOA and reduce them via reliefs that are applicable, the rates may also illustrate why a lot of small start-ups choose to run their businesses from home, with the option of employing virtual staff or freelancers if they’re unsure of committing to fixed costs of commercial office space.”