Rating Rethink Reaps Rewards

Case Study

Rating Rethink Reaps Rewards

Moving from managing their own business rates internally to a more structured, outsourced system through BNPPRE, revolutionised this large UK fund manager’s approach and has already reduced annual liability by more than 50% in just 12 months. 

A large UK fund manager ran their own rating management system for their complex and diverse portfolio of funds and properties.  The only outsourcing was for rating appeals and historic rates audits which BNPPRE took on from 2010.

For many years our client was reluctant to consider wider outsourcing. They had a variety of reasons for this including a trust that Billing Authorities would provide accurate billing and timely refunds.  As a result, they found it hard to appreciate what money might be saved and justifying outsourcing costs was difficult.   

Reviewing their position with us in 2020 we demonstrated the financial benefits of having a rigorous, proactive, streamlined service, delivered by a dedicated expert team and we were appointed. 

Rates payments and mitigation are now managed through our meticulous, banking level compliance processes and controls. Better planning, budgeting and financial reporting has enabled: controlled outgoings and access to data; more effective and regular portfolio monitoring; monthly reconciliation and timely rating payment; identification of new mitigation opportunities, and active refund management.    

In only 12 months our service has become a key part of our client’s asset management process.   Results to date include £1.25m of savings on reliefs that had previously not been correctly applied and reducing our client’s liability on their void portfolio to c48% of what would have been due if BNPPRE had not come on board. 


Rating Rethink Reaps Rewards