Listed
Buildings Exempt from Empty Property Rate
In
the budget of March 2007 the chancellor announced changes
to the Empty Property Rate regulations that would become effective
from 1st April 2008 (1/4/08). The
Rating (Empty Properties) Act 2007 gave effect to key elements
of those reforms and received Royal Assent on 19 July 2007.
A
Consultation Document then followed to seek views on detailed
elements of reform that would need secondary legislation.
The
results of the consultation exercise have now been made public
and the government has decided to continue to give empty listed
buildings full exemption from business rates (non domestic
rates).
Other
aspects of the results are that vacant properties owned by
companies that are in administration will be exempt from empty
property rate. The introduction of anti avoidance legislation
is to be deferred.
For
advice on this and all rating matters please contact
us
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