british property foundation

Pressure on Government to scrap Empty Property Tax

Lobby groups have increased pressure on the Government to scrap business rates on empty commercial premises, in an attempt to help business landlords struggling with tough economic conditions. The campaign is being led by the British Property Foundation (BPF), which has called on the Government re–introduce rate relief on empty commercial properties. Since the law changed on 1 April 2008, landlords have to pay full business rates on empty retail and office property, following a three–month grace period — previously they received 50% tax relief. Industrial properties now have to pay 50% for the first six months, then the total amount. In an open letter to Prime Minister Gordon Brown, the BPF said the tax was encouraging firms to demolish buildings rather than pay the charg... »

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Removal of Empty Property Rate Relief

The British Property Foundation (BPF) has called on the Government to re–introduce rate relief on empty commercial properties, as its decision to remove it is penalising small firms. The Government removed commercial property rate relief on empty premises in April this year, in an effort to force landlords to find tenants for empty buildings and regenerate properties. However, according to the BPF, the removal of the relief means that property owners who are unable to find tenants are demolishing buildings rather than paying the full rate, while regeneration projects in deprived areas are being shelved because of the risk of higher costs during vacant periods. The BPF also expressed concern that a lack of supply of commercial property will lead to higher rents in the long term. &ldqu... »