New-build rate relief for empty commercial properties

Newly-built unoccupied commercial properties in England which are completed between 1st October 2013 and 30th September 2016 will be eligible for 100% relief on business rates for the initial 18 months when construction is complete. The Government is contributing around £150 million to local authorities, which can use their discretionary powers to grant relief from business rates where commercial buildings meet particular criteria. Local Government Minister Brandon Lewis stated: “This move will boost confidence in the commercial property sector and allow them to develop new projects again without worrying about the risk of rate bills on empty buildings whilst they find a buyer.”
Read more about the new rate relief at:
https://www.gov.uk/government/news/fresh-incentives-for-new-commercial-building-construction

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