Search our news, events & opinions

19 March 2014 0 Comments
Posted in Business, Commercial Property

Business rate relief now available on new commercial buildings

Posted by , Partner

As part of central Government’s initiative to encourage development, it has given local authorities the ability to grant business rate relief to newly constructed commercial buildings that remain un-let.

The intention behind this is to encourage speculative building, rather than stay in the current situation where developers are waiting until premises have been pre-let before staring construction.

Local authorities are allowed to give 100% business rate relief for a period of 18 months following practical completion of a new commercial building where this occurred after 1 October 2013.

Wiltshire Council, Bath & North East Somerset Council and Swindon Borough Council have all embraced this boost to the economy and will grant full business rate relief for a maximum period of 18 months while any property remains vacant.

More information

A copy of the Government’s Guidance can be found at: https://www.gov.uk/government/publications/business-rates-new-build-empty-property

If you would advice about any business rate relief or any other commercial property issue contact Peter Foskett in our Commercial Property team on 01793 507 664 or email peter.foskett@roydswithyking.com.

Leave a comment

Thank you for choosing to leave a comment. Please keep in mind that comments are moderated and please do not use a spammy keyword or a domain as your name or it will be deleted.

*required*

**required*

*optional*

Business

Keeping you informed about Business news, events and opinion.

Partner

T: 01793 847 712 (DDI)
Email

Search our news, events & opinions