Rules around business rates are different in Scotland and Wales. Empty premises cost an estimated £26m in Wales.
Empty property relief sees some councils lose out on up to 6% of their business rates income, though only around half that amount would be retained locally. Professor Paul Greenhalgh, who researches real estate and regeneration at Northumbria University, said short-term relief could also show some businesses were expanding into different premises.
It'd be much fairer to tax the land, instead of taxing the business that rents the space. The land owner benefits twice under current model, with the renting business taking on the majority of risk. It's one major reason why high streets are emptying.
Shld be none for any chain or conglomerate. Only for sml business to deal with unforseen circumstances
tories will be pouring billions into local business they are the party of business, one snag the people won't have any spare cash to spend-it's a bark init.
Soooo the councils want the tax for the first 3 months a property is empty but at the same time bemoan the demise of the high street. Not exactly an incentive for landlords is it? Lower taxes would surely improve high street prospects? Seems like Catch 22.
So who's profiting?