|  Listed
Buildings Exempt from Empty Property Rate
In
the budget of March 2007 the chancellor announced changes
to the Empty Property Rate regulations that would become effective
from 1st
April 2008 (1/4/08)
The
Rating (Empty Properties) Act 2007 gave effect to key elements
of these reforms and received Royal Assent on 19 July 2007.
A
Consultation Document then followed to seek views on detailed
elements of reform that would need secondary legislation.
The
key question for most rating professionals, and occupiers
of empty property, was whether listed building would still
retain their exemption from empty (or unoccupied) property
rate.
The
results of the consultation exercise have now been made public
and the government has decided to continue to give empty listed
buildings full exemption from business rates (non domestic
rates)
Other
aspects of the results are that vacant properties owned by
companies that are in administration will be exempt from empty
property rate.
The
introduction of anti avoidance legislation is to be deferred.
| Adrian
Smith is a Rating Surveyor with over 25 years experience
in representing and advising ratepayers. He has an in
depth knowledge from both sides of the fence as he has
spent much of his working life with the Valuation Office
Agency as well as representing private sector business
and acting as consultant to professional
property firms.
He
has the knowledge, experience and technical expertise
to advise on all aspects of rate liability including
valuation, the application of transitional arrangements,
rating appeals, material change of circumstance, temporary
allowances, empty property rate, section 44a relief,
transitional certificates, charitable and other reliefs,
as well as acting on your behalf in an appeal against
your rateable value and representing you at valuation
tribunal.
If
you are a ratepayer or a property professional and require
advice on rating matters it is essential that you consult
a rating specialist. |
|
