How we can help?
In order to be effective, rating advice must continue to reflect the constantly changing economic and political landscape; support needs to be proactive and innovative, maximising opportunities to mitigate rates at all stages of a property's lifecycle.
At Knight Frank, we have built a highly specialised team of rating advisers who embody these ideals.
View our business rates savings factsheet
Our services
- Assist in maintaining occupancy levels.
- Enhance potential for rental growth.
- Assist in maintaining capital values.
- Strengthen relationships with tenants by mitigating their property overheads.
- Mitigate empty rate liability during void periods.
ALERT FOR VACANT PROPERTY OWNERS: Changes to Business Rate Taxation Policy
At the end of 2023, the Government quietly implemented a new business rate taxation policy affecting property owners. The policy now subjects owners refurbishing their properties to full rates upon completion, even if the property isn't yet ready for occupancy.
This regulatory shift empowers Councils to serve notices on refurbished properties, assessing rates before they're tenant-ready. This series of punitive measures aims at owners and investors of empty properties, with more changes on the horizon, including tighter regulations on unoccupied business rates relief.
These changes have significant implications for property owners' commercial decisions regarding refurbishments and improvements. With the new law, Completion Notices can be issued as soon as a property reaches a CAT A condition, reinstating rates sooner than anticipated, leading to ongoing liabilities during non-income-producing periods.
Landlords must be proactive, considering priorities and consulting with business rates experts. A Completion Notice can be appealed within a limited timeframe, emphasising the importance of having advisors in place before practical completion. Our expert advice is crucial to navigate this complex landscape. Get in touch to find out more.