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Rates Saving
From 1 April 2010 all empty properties with rateable values
under £18,000 do not have to pay any Business Rates;
in 2009/2010 the limit was £15,000. Around 75% of
all properties are below the £18,000 threshold and,
if empty, in 2010/11, they will pay no rates whatsoever.
This is a government incentive to assist small businesses
to manage their property affairs in the current difficult
economic climate.
Marcus Andrews of Goadsby says: “This is welcome news
for those with vacant units having rateable values up to
£18,000. But those with empty properties, with a rateable
value just over the limit, will still have to pay full rates
after an initial void period. If there is a delay in finding
a buyer or a tenant then Ratepayers should explore the possibility
of appealing against the assessment itself, to get just
under £18,000, or splitting the figure to achieve
the same result.”
Goadsby successfully split the car spaces away from some
empty offices recently so that individually they are below
the threshold. Before the assessment was exactly £15,000,
and full empty property rates were being paid. That client
has now received a rating refund cheque of several thousand
pounds.
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