commercial property

Thousands of Businesses Owed Tax Rebates on Commercial Property

Hundreds of thousands of small business owners could be due a hefty tax rebate from HMRC, according to capital allowances tax specialists, CA Tax Solutions. It says that any company that owns a commercial building has a high probability of receiving a capital allowances tax windfall to the tune of thousands or even tens of thousands of pounds. Businesses of all types could be eligible — from fish and chip shop owners, dry cleaners and dentists to grocery stores and estate agents. Research from accountancy firm Deloitte confirms that in nine cases out of 10, capital allowances reports will uncover a tax rebate for the owner of a commercial property. With about 1.4 million commercial properties in the UK, the numbers are potentially huge. Claims can be made historically and CA Tax Solutions ... »

Energy Performance Certificate for Commercial Property

EPC’s extended to all commercial properties

The Government has reminded business–owners that all firms selling or letting commercial property are now obliged to have an Energy Performance Certificate (EPC). This legal requirement was introduced on 1 October 2008 and aims to give business–owners a better idea of the energy efficiency of their building, and to provide prospective commercial property owners, or tenants, with crucial information before making a decision. Previously, the legislation only applied to buildings bigger than 2,500 square metres. But now any firm which fails to provide potential buyers or tenants with an EPC risks a fine equivalent to 12.5% of the rateable value of their property. The EPC grades a buildings energy efficiency on a scale from A to G, with A being the most efficient. The average ratin... »

British Property Foundation Logo

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... »