non domestic rates empty property relief, often referred to as the empty property rate relief, is a scheme that provides relief for businesses that have vacant properties. This relief is designed to help alleviate the financial burden on businesses that are not able to generate any income from their empty properties.
When a business property becomes empty, the owner is still liable to pay non domestic rates, also known as business rates. These rates are a tax that businesses are required to pay to their local council in order to fund local services. However, when a property is empty, the business owner may struggle to pay these rates without any income coming in.
This is where non domestic rates empty property relief comes in. This relief allows businesses to apply for a reduction or exemption from paying business rates on their empty properties for a certain period of time. The length of time for which relief is available can vary depending on the circumstances and area in which the property is located.
There are two main types of non domestic rates empty property relief available to businesses – empty property rate relief and exempted buildings relief. Empty property rate relief is available for most commercial properties that have been empty for a certain period of time. This relief can provide a full exemption from paying business rates for the first three months that a property is empty, and then a 50% reduction after that.
Exempted buildings relief, on the other hand, is available for certain types of buildings that are exempt from paying business rates even when they are empty. These include buildings that are listed as being of historical or architectural importance, as well as buildings that are used for religious or community purposes. In these cases, the property owner may be eligible for relief from paying business rates on their empty property for an indefinite period of time.
In order to qualify for non domestic rates empty property relief, businesses must meet certain criteria set out by their local council. These criteria can include proving that the property is genuinely empty and not being used for any business purposes, as well as providing evidence of efforts to actively market the property for rent or sale.
It is important for businesses to keep in mind that non domestic rates empty property relief does not apply automatically – it is up to the property owner to apply for this relief with their local council. The process for applying can vary depending on the council, but generally involves filling out a form and providing supporting evidence to prove eligibility for the relief.
non domestic rates empty property relief can be a valuable resource for businesses that are struggling financially due to empty properties. By providing relief from paying business rates on vacant properties, this scheme can help businesses to manage their cash flow and avoid additional financial strain during difficult times.
However, it is important for businesses to be aware that non domestic rates empty property relief is not a permanent solution. The relief is usually only available for a limited period of time, after which the property owner will be required to pay business rates again, unless they are able to find a tenant or otherwise bring the property back into use.
Overall, non domestic rates empty property relief can provide much-needed support for businesses facing financial difficulties due to empty properties. By understanding the criteria and application process for this relief, businesses can take advantage of the scheme and alleviate some of the financial burden of owning empty commercial properties.