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| News » Company and Commercial Law » Landlords consider options to avoid empty rates tax |
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12/09/2008
Landlords consider options to avoid empty rates tax |
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Landlords of commercial property who are concerned about rate rises are starting to employ security services to man properties and avoid them paying empty rates tax.
Propertyweek.com also reported that an increasing number of businesses are looking at demolition as a way of getting out of paying rates.
Barry Francis, chief executive of the UK branch of Netherlands company Ad Hoc, said: "We give property owners peace of mind and, since around June this year, when the rate reforms and the credit crunch started to sink in, we have seen much more demand."
Mr Francis said companies such as Shell and Phillips have enlisted Ad Hoc's services.
He said that the company expected more firms to sign up as the economy and empty rates taxes put increased financial pressure on businesses.
A new survey by Colliers CRE's ratings division, Accurates, found that close to a quarter of 100 landlords who were questioned said they would consider demolition "as a serious alternative to paying rates". |
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