Empty Rate Relief
Empty Rate Relief
Looking for Relief?
Having scrapped much of the “Empty Rate Relief” previously enjoyed by owners and occupiers of commercial property, the Government is now set to cash-in as new legislation takes effect.
The new regime as of 1st April 2008, entitles all property to 100% rates relief for the first three months from the date the property became empty. Thereafter the property will pay full rates. Complete exemption only being given to clubs.
Recommendation
Our recommendations to owners of commercial property to mitigate their rates liability is as follows:
- Firstly as a ratepayer of vacant properties you should
consider lodging appeals against the level of assessment of
properties.
- Secondly, appeal against all completion notices within 28 days of service of
the notice on new properties, to defer the date that a new vacant property comes
into the rating list.
- Thirdly, review your strategy on the vacant parts of your property portfolio
and consider granting shorter leases or offering incentives in order to secure a
letting.
For further information and advice contact Andrew Leech.
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