With effect from 1st April 2008 empty commercial property is being hit with 100% rates liability. This will have a significant impact on owners of vacant property but industial property owners will see the biggest impact as they previously benefitted from 100% relief. Industrial property empty for six months prior to 1st April 2008 and offices and retail premises vacant fro 3 months will pay full rates from that date.
MUA Property Services is already working with cleints to reduce liabilities using various tactics within current rating legisislation. If you need experienced and innovative Rating Consultants to advise on this onerous and unfair business tax then please contact us.
Our services are open to owners, former occupiers and property funds. In February 2008, in preparation for the changes in rates for vacant properties we were instructed to provide a Rates management service for Rockspring Investment Managers on a portfolio of over 1000 properties.