**
When it comes to owning commercial property, there are many costs that come with maintaining and operating it One of the biggest expenses that property owners face is business rates – a tax that is levied on non-domestic properties, including shops, offices, warehouses, and similar buildings However, there are ways to potentially avoid paying business rates on empty property In this article, we will discuss some tips for property owners looking to reduce or eliminate this financial burden.
**1 Keep the property occupied, even if temporarily**
One of the most effective ways to avoid paying business rates on empty property is to keep it occupied, even if only temporarily By leasing out the space to short-term tenants or even using it for popup events, property owners can demonstrate that the property is in use and potentially qualify for exemptions or relief from business rates.
**2 Consider applying for exemptions**
In some cases, property owners may be eligible for exemptions from paying business rates on empty property For example, if the property is undergoing renovation or repairs, or if it is considered unfit for occupation, owners may be able to apply for temporary exemptions It is important to check with the local council to see if the property qualifies for any exemptions and to follow the necessary procedures to apply.
**3 Utilize reliefs and discounts**
Property owners should also explore potential reliefs and discounts that may be available to them For example, empty properties in rural areas or small business premises may qualify for relief from business rates Additionally, there are discounts available for certain types of properties, such as those used for charitable purposes or for industrial activities By researching and applying for these reliefs and discounts, property owners can significantly reduce their business rates burden.
**4 Appeal the rateable value**
If property owners believe that the rateable value assigned to their property is too high, they have the right to appeal the valuation avoiding business rates on empty property. By providing evidence to support a lower valuation, such as comparable property values or rental rates in the area, owners may be able to successfully reduce their business rates liability It is important to keep in mind that the appeal process can be complex and time-consuming, so property owners may want to seek professional advice or assistance in preparing their appeal.
**5 Explore alternative uses for the property**
Another way to potentially avoid paying business rates on empty property is to explore alternative uses for the space For example, owners could consider converting the property into residential units, coworking spaces, or storage facilities By demonstrating that the property is being actively marketed for alternative uses, owners may be able to qualify for exemptions or relief from business rates It is important to research the legal and planning requirements for changing the use of the property and to consult with professionals to ensure compliance.
**6 Monitor and manage the property**
Property owners should regularly monitor and manage their empty properties to ensure that they are meeting the necessary requirements to qualify for exemptions or relief from business rates This includes keeping the property in good condition, ensuring it is secure and safe, and actively marketing it for occupancy or alternative uses By staying proactive and organized, owners can maximize their chances of reducing their business rates liability on empty property.
In conclusion, paying business rates on empty property can be a significant financial burden for property owners However, by following these tips and strategies, owners can potentially reduce or eliminate their business rates liability From keeping the property occupied to exploring alternative uses and appealing the rateable value, there are several ways for property owners to avoid paying business rates on empty property It is important to stay informed about local regulations and requirements, and to seek professional advice when necessary to ensure compliance and maximize savings on business rates.