Our Rating team was asked by Wigan Athletic Football Club, to appeal and mitigate their rates payable under the 2005 and now the 2010 rating lists.
Successfully reduced Rateable Value by 26.5% and achieved total savings of over £750,000.
We successfully managed to reduce the 2005 list Rateable Value from £400,000 to £294,000. We also achieved savings over the 2005 Rating List of £229,933.87 with an additional knock on saving of over £700,000 under the 2010 rating list. In addition, we were able to claim a reduction in liability covering the period between 2010 and 2015 under ‘transition’.
Replacement cost valuation adopted
Richard Wackett, National head of Rating, explained: “Rating law determines that a rateable value assessment is proxy for a rental value at a fixed valuation date. Given the dearth of rental evidence for stadia generally, we have adopted a replacement cost valuation subject to adjustments in achieving a substantial reduction in assessment.”
2010 rating list negotiations taking place for football stadia
We provide rating consultancy advice to 28 Premiership and Football League clubs and are currently negotiating a valuation basis for football stadia under the 2010 rating list. Rateable Value assessments have increased by up to 100% at the 2010 revaluation and we are seeking to make multi million pound savings for clients in negotiation with HMRC.
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