How do you minimise your empty business rates liability?
Empty Rates is a significant property holding cost and none of the Covid measures introduced by the Government extend to empty properties. Many property owners consistently utilise temporary occupation to mitigate rates when there are other options available.
This is a complex area of Business Rates – a specialism within a specialism that requires intimate knowledge of the legislation, procedures and caselaw to produce the best results. Whether you’re developing, redeveloping or just looking to reduce liability on existing buildings, we have the expertise to minimise your liability. We act for a range of Funds, Propco’s, Developers and High-Net-Worth Individuals across the UK and have extensive experience providing solutions to empty rates problems.
Whether its deferring liability on new builds, deleting assessments whilst refurbishments underway or providing advice on robust, cost effective temporary occupation solutions – we provide advice tailored to your specific circumstances rather than a one size fits all solution.
First and foremost, if there are works underway or refurbishment/redevelopment undertaken historically then can the property be deleted from the rating list? There is a subtle difference between a £0 RV and a deletion which can make a substantial difference to your empty rates liability once works are complete. Where works have been undertaken we can seek deletions and take action to defer future assessment.
For new build properties approaching PC or where RV’s have been reduced to £0 or deleted it is essential to have a strategy to deal with reassessment.
What should you do if you receive a Completion Notice from the Council? It is essential to react promptly as CN’s have a 28 days appeal window. We have however made many out of time appeals so get in touch ASAP if you have received a Completion Notice or any contact from the council.
Don’t get caught with a retrospective liability that you can do nothing to mitigate.
Where its not possible to challenge the rateable value or effective date then rates mitigation is the only option. We work extensively with Mothball to provide a best in class empty rates mitigation solution and dovetail our services to consistently provide the most cost-effective solution. Click here for more information.