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hedi

A Point About Business Rates

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sorry about capitals, thingy got stuck

my understanding is that shortly, the rules over business rates is changing. apparently up till now rates were not payable on empty offices and shops, wharehouse etc. however i have been informed that this will change and full rates will apply even if premises are empty.

anyone know if this is correct. as could have profound effect on landords.

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sorry about capitals, thingy got stuck

my understanding is that shortly, the rules over business rates is changing. apparently up till now rates were not payable on empty offices and shops, wharehouse etc. however i have been informed that this will change and full rates will apply even if premises are empty.

anyone know if this is correct. as could have profound effect on landords.

I know when a tenant is in a house/flat, they pay Council Tax.

But does a BTL landlord pay Business Rates when it is empty?

I suspect not. Surely they'd just be responsible for Council Tax - and you can have it empty/pay nothing for 6 months in total (not sure if that is per year or what).

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Hedi, I found this

Changes to Business Rates threaten empty property relief

Seems to be tax relief against empty properties rather than actual rates?

A recent budget announcement by the Chancellor of the Exchequer to remove tax relief on empty buildings will cause headaches for investment funds, developers, landlords and tenants who can expect significant increase in costs for holding onto, or not using, vacant commercial properties.

Here is also a link to my local Council on their current rates rates!

BFBC

Non-domestic properties which are unoccupied may be liable to empty property rates. Rates are charged at 50% of the full rate bill or the transitional bill where the transitional arrangements apply. Liability begins after the property has been empty for three months.

No mention to a change of this but as the other article says it starts in April 2008 who knows?

HTH

Just found this ... may help (sorry no time to read myself)

The rates bill

Edited by REP013

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From April of 2008 the rules on business rates change.

As it stands at the moment owners of commercial premises do not have to pay rates on them if they are not occupied.

From next year the landlord has 3 months to find a paying tenant, if they can't or won't the landlord has to pay the full business rate out of his/ her own pocket until such time as a tenant is found to "take over".

The government want empty business premises used for their intended purpose or the land used for something else.

I think this is a great idea- forces landlords to be sensible with rents if nothing else.

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