Empty rates – your vacant commercial property
Empty rates became payable at 100% liability for properties left vacant for longer than 3 months (6 months for industrial properties) by virtue of the Rating (Empty Properties) Act 2007.
From 1 April 2009, empty rate relief was granted to vacant commercial properties with a Rateable Value under £15,000 RV. In the 9 December 2009 Pre Budget Report, the Chancellor confirmed that the empty rate relief scheme will run for a further year in 2010/2011.
The criteria have been adjusted upwards so properties with a Rateable Value of up to £18,000 RV will not have to pay empty rates.
For further information on your empty rates liability contact Simon Moffatt (moffatt@bmh.co.uk) or call 08000 710 014
