Owners Tempted to Raise the Roof; AT a Time of Challenging Economic Conditions, Clearly All Opportunities to Avoid or Reduce the Empty Rates Cost Must Be Taken, Says Steve Turton of BNP Paribas Real Estate
THERE are different ways to minimise the additional cost and it's essential to make sure you're aware of the potential opportunities for complete avoidance or cost minimisation.
Empty rates can be charged only if the property is in the rating list. So, deleting an entry or postponing entry of new buildings will bring savings.
Buildings not capable of occupation should not be in the list. Constructive vandalism, such as removal of roofs from industrial buildings, a practice common in the 1980s, would achieve such a result.
In anticipation of constructive vandalism, the Government has adopted a 'wait and see' approach with law possibly being introduced as a …
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Publication information: Article title: Owners Tempted to Raise the Roof; AT a Time of Challenging Economic Conditions, Clearly All Opportunities to Avoid or Reduce the Empty Rates Cost Must Be Taken, Says Steve Turton of BNP Paribas Real Estate. Contributors: Not available. Newspaper title: The Journal (Newcastle, England). Publication date: June 10, 2009. Page number: 37. © 2009 MGN Ltd. COPYRIGHT 2009 Gale Group.
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