smallbusiness.co.uk: Helping your business think big

If you rent your business premises, appointing a chartered surveyor could save you time and money. SmallBusiness.co.uk explains how a surveyor can help you.

Typically, premises are a business’s second biggest cost after wages. According to the Royal Institution of Chartered Surveyors (RICS), UK business premises are costing tenants and owner-occupiers around £300 million in over-charged business rates per year.

Surveyors can perform a range of tasks and significantly reduce costs for your business.

How can they help?

Rent reviews
If you are leasing your premises, you will probably have regular rent reviews. A chartered surveyor can help you assess whether your landlord’s proposal is fair and if necessary go into negotiations on your behalf.

Service charges
As a tenant you are likely to pay a service charge to your landlord covering aspects such as cleaning or insurance. A chartered surveyor can assess the fairness of this charge and make sure you are getting what you pay for.

Your business rates
Surveyors can guide you through the process of assessing your business rates and, if you wish, appealing against them to get a reduction. They can explain how your rates are decided and inform you of any exemptions if you qualify for them, such as transitional relief, vacant premises or subletting reductions.

Tax issues
Property-related spending may be deductible against your taxable profits. You can get specialist advice about your tax position from a chartered surveyor. They can help you plan ahead to maximise your tax position and potentially make retrospective claims on past spending.

Insurance claims
If you are responsible for your own insurance at your premises, a surveyor can assess the value of your building's contents and, if need be, find quotes and arrange all your insurance. Moreover, if you are unlucky enough to have to make a claim, they can manage any emergency works and negotiate your claim with your insurers.

To get in touch with RICS and find a chartered surveyor visit www.rics.org or call 0870 333 1600.

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