A Goole firm declared insolvent after being issued with a £200,000 (US$304,000) business rates bill, has been told by the Valuation Office Agency (VOA) that it had overestimated the amount owed.

         Port agency and stevedore Scotline Terminal Goole (STG) went into liquidation last month when East Riding Council demanded just under £200,000 from a total business rates bill of £701,000, based on the VOA's assessment that its rateable value was £257,000 a year.