Business rates exemption continues for empty properties

Thursday, December 10, 2009

Pre-budget report continues business rates exemption.

By Ashley Brunskill

Commercial properties with a rateable value below £18,000 will be exempt from business rates until 2010 -11, it has been revealed.

The chancellor Alastair Darling made the announcement that the existing policy would be extended and will mean that 70 per cent of all empty properties will continue to be exempt.

Matthew Hopkinson, business development director at the Local Data Company, said: "I don't think it makes a massive amount of difference because it is going to continue to irritate the larger institutional landlords."

He added that he can see why the British Property Federation (BPF) have stated that it is unhelpful for the government to make this announcement but he can also see why the government is desperate to create income and encourage bigger landlords with vacant properties to get them filled.

Criticism for the government has already been received from the BPF who called the empty commercial property announcement an "absurd" way of helping businesses.

Source: ask-re The Property People LLP