CVS the UK's fastest growing business rates specialist has helped the Leicester based NATIONAL SPACE CENTRE to save thousands of pounds by carrying out a rating appeal and securing a truely 'out of this world' reduction in its business rates bill.

An overall reduction of £165,000 on the rateable value has been obtained by CVS resulting in a saving of over £18,000 for the NATIONAL SPACE CENTRE; a welcome saving with businesses in Leicester and across the country facing a 4.6 per cent tax hike this financial year.

In CVS's experience around half of all businesses in Leicester may be eligible for a rebate and a reduction on their rates bill. This is due to business rates being based on an estimated property value with the 'true' value often considerably lower.

By submitting a formal appeal to the Valuation Office Agency, it is frequently possible to agree a reduction and even if the bill has already been paid, a rebate can often be secured by lodging an appeal.

Research by CVS shows that between 2005 and 2010, business rates bills in England and Wales increased by £988m (or 4 percent) and thousands of businesses could be missing out on the chance to claim a rebate.

According to CVS Chief Executive Mark Rigby: "Business rates are a major burden and typically the third highest cost after wages and rents. Our experience shows that many businesses are paying too much and could potentially save around 10 per cent of the business rates paid if they were to appeal making a real difference in the current economic climate."

"We are delighted to have been able to help the NATIONAL SPACE CENTRE to add value to their business and we hope to help many more businesses in the Leicester area. Helping businesses to save money and to operate more efficiently is a valuable service at any time – but no more so than now when the UK is facing tough economic challenges and every pound counts,"

CVS is the largest business rates specialist in the UK and has saved its clients in excess of £128 million by managing their 2005-2010 appeal.