Since 2008, empty or unoccupied properties have been liable to pay business rates. After a brief exemption period, empty properties with rateable values of more than £2600 are subject to tax. Make sure Gerald Eve’s rates relief experts are with you to mitigate your costs in 2017.
Vacant properties will not be expected to pay business rates for a period of three months after they become empty. For certain industrial properties this period of exemption may be extended to six months. After this, the property owner is responsible for ensuring their property tax is accurate (see Gerald Eve’s advice on Check, Challenge, Appeal) and the sum paid.
The property owner is liable to pay empty property tax until the building becomes occupied. At which point, the liability is transferred to the occupant.
Rateable occupation is defined as actual, of benefit, exclusive and for a period which is not insignificant.
Thanks to the recent Empty Rates legislation, introduced to England in 2008 and Wales and 2013 in Scotland, companies can lawfully engage in business rates mitigation strategies.
Over the past few years, we have secured substantial savings through empty property rates relief. Our rates mitigation experts have helped property owners, occupiers, developers and landlords by successfully challenging the Valuation Office Agency and local authorities.
Empty Property Tax Relief From Gerald Eve
Seeking professional rates consultation from Gerald Eve is the best way to maximise your chances of winning any business rates appeal. You can be safe in the knowledge that our empty rates relief strategies are always highly tailored to match your exact needs and concerns. We are dedicated to and achieving empty property tax savings swiftly and lawfully.
We have rates mitigation specialists based in nine major cities across the UK. This gives us invaluable local insight into regional and sector specific rates, and enables us to maintain a record of successful empty rates challenges.
Whether you need advice on rates relief for an empty pub or factory, or are after rates consultation for a soon-to-be vacant property, Gerald Eve have the expertise and passion to guide you.
For information on how Gerald Eve can help reduce your business rates, call us today on 0845 1288 952 or send an email to one of property tax mitigation experts at [email protected]