Nandos Budget Rates Flashcards
How did you cross check the RV’s were correct from your former spreadsheet?
Manually checked every RV on the VOA and checked the most recent rate demands
What reliefs did you have to take into account?
100% holiday first 3 months from April to July
66% retail relief for rest of the year, cap of £2,000,000 relief. They were over this threshold and therefore could not claim relief on ever single property. Nando’s decided internal which sites to apply the relief too, it was discussed they would apply it to the least profitable sites from 2019.
Transitional relief impacts
What did you caveat?
That we reserved the right to make changes when and if the gov release new information of reliefs. Uncertain time.
What else did you have to look out for in regards to changes to RV’s?
Insert list alterations as a result of our challenges and future aspirations for reductions.
What did you take into account with the Multipliers?
If the units were over £51,000 or not
If they were in Greater London and over £70,000
If they were in the city of London.
If the multiplier would rise, it was frozen.
Wheres there an increase or decrease in units?
There was a slight increase, Nando’s were due to complete on a number of units and not dispose of any.
What was the purpose of this exercise?
To show to the client what business rate liability they would from 2021-2022.
To assist the client with their own financial budgeting.
What did you advice the client?
Advised them on which units I was targeting for reductions, which ones we have already secured savings on.
Advice on what level of business rates liability they should budget for.
How did you present?
Shared a streamlined excel spreadsheet documenting liability and difference from 2019 and 2020.
Supplementary guidance document.
Later shared full excel
