| New relief's in force to bring empty buildings back into use |
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From 1 April empty commercial property will be liable for the full business rate after an initial rate-free period of three months, or six months for factories and warehouses.
Charities, community amateur sports clubs and companies in administration will be granted a complete exemption from rates on their empty properties. Businesses that rent premises will particularly benefit through an increase in the availability of properties, thereby reducing rents and increasing the UK's competitiveness. The reform of empty property relief is part of a wider package designed to increase UK competitiveness and promote more efficient land and property markets. Measures such as the new 100 per cent capital allowance for renovating or converting empty business property in Assisted Areas will encourage owners to bring empty properties back into productive use and discourage deliberate dereliction. www.communities.gov.uk/news/corporate/734801 Share this Article:                        Advertisement |
