21 Mar 22 by Connor Davidson
Empty property rates relief
Most property types are exempt from business rates for the first three months they are vacant. After this time, most businesses must pay full business rates, although there are some exceptions. Some properties can get extended property relief; for example, industrial and warehouse properties are exempt for a further three months giving them six months before the owner or occupier must pay business rates. The exemptions include:
- Listed Buildings (Until they are re-occupied)
- Buildings with a rateable value under £2,900 (until they are re-occupied)
- Properties owned by charities if the property’s next use with be mostly for charitable purposes
- Community amateur sports clubs’ buildings if the next use will be mostly as a sports club.
If your property remains vacant and empty property rates relief no longer applies, we offer a fully compliant solution which can mitigate your liability until such time as your property is re-occupied. Furthermore, if your property is partially occupied, in some circumstances we can apply to the local billing authority on your behalf to award temporary relief for the part not in use.
Small Business Rate Relief
You can get small business rate relief if your property’s rateable value is less than £15,000, depending on certain criteria. You will not pay business rates on a property with a rateable value of £12,000 or less. For properties with a rateable value of £12,001 to £15,000, the rate of the relief will go down gradually from 100% to 0%. If your Rateable Value is close to either of these thresholds, it could be worth reviewing your business rates assessment – we have saved thousands of pounds for clients whose Rateable Values should have been below £12,000.
Rural Rate Relief
You could get rural rate relief if your business is in a rural area with a population below 3,000 and the property you occupy fits requirements specified by the Valuation Office Agency.
Charitable Rate Relief
Charities and community amateur sports clubs can apply for charitable rate relief of up to 80% if a property is used for charitable purposes.
Please contact Vickery Holman to ensure you are receiving the reliefs for which you should or could be eligible.
Our Ratings team are on hand to help – please contact us here