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FOR
LEASE
hospice shop
antiques
open
FOR
SALE
CLOSING
DOWN
CLOSED
30
dTZ | In Situ
In the uK, the last 12 months has seen a dramatic shift in the way owners and occupiers view their
property costs, including the business rates they pay. These financial burdens have contributed to the
demise of major high street brands such as JJB Sports, Jessops and comet with many others like hmV
and Blockbuster facing significant financial woes. The business rates paid on both occupied and vacant
properties alike is something that is set to take a high priority over the coming financial year.
There are a number of situations where business rates relief may
be applicable, whether your property is occupied or vacant:
1. If your property is
partly occupied for
a temporary period
then relief may be
available. This could
be due to you phasing
in your occupation or
vacation of a property
2. If you occupy a property and are a
registered charity or community
Amateur Sports club (cASc) you
may be entitled to relief of 80% of
the business rates payable. In some
situations 100% relief may be granted
3. Small business rates relief may
be applicable if your rateable
Value is below a certain value. The
government has recently extended
the period whereby additional
levels of relief can be obtained
4. oversupply of a city, whereby the
amount of occupiers at a particular
period in time is far less than the
amount of available space, can result in
substantial allowances in certain areas
5. The size of your property, its
usage, where it is situation and
the quality of buildings in the area
can also affect the rateable Value.
Properties are rated higher in
London and main cities in general
6. If your property is
unoccupied, and
is a listed building,
100% relief from
unoccupied business
rates is available
7. If the property is
unoccupied and it
will be occupied
next by a registered
charity or cASc
then 100% relief
from unoccupied
business rates
may be available
8. An exemption
from unoccupied
business rates may
be available if your
property is prohibited
by law to be let
9. If the ratepayer
is bankrupt or in
liquidation, this will
be up to the date the
property is sold or
lease is disclaimed by
the official receiver or
Insolvency Practitioner
occuPied
uNoccuPied
local tax
A uk perspective
17 initiatives that can affect rating in the uk
