firm news
Landlords struggling to find tenants for their empty properties have now been dealt a further blow, with the government’s recent announcement of a dramatic cut in the threshold for empty property rates relief.
Currently, landlords do not have to pay business rates on any unlet property with a rateable value of less than £18,000.
The government has, however, now decided that such a concession is “unaffordable” in view of the need to reduce public expenditure and, as a result, has announced that the threshold for exemption will be reduced from £18,000 to just £2,600 as from 1 April this year.
For more information about how this issue affects you or to find out more about how the Dispute Resolution team can help you please contact Russell May on 0118 952 7206 or email [email protected].
Consistent with our policy when giving comment and advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of specific problems we recommend that professional advice be sought.
