Another deadline for land and property owners
LANDOWNERS in Scotland, already reeling from the implications of the new land reform bill being brought in by the Scottish Government, are facing another looming deadline which will have a major impact on the business rates regime.
In a bid to bring empty properties back into economic use, the Scottish Government devolved administration of tax relief on such assets to individual local authorities on April 1 last year, and now councils are bringing changes into effect.
The relief regime that applied nationally up until this point varied to a degree, explained Jennifer Campbell from DM Hall.
She said: “with some owners of empty properties enjoying 100% relief for many years, while others were supported with 50% relief on business rates for three months, 100% relief on industrial properties for six months, followed by 10% thereafter.
“Under the new policies, exemption will only be available for empty properties which are prohibited from being occupied by law, for example, where asbestos removal is being carried out.”
The repercussions of the amended policies will be farreaching. While no landowner wants to sit on an empty property, or parcel of land, for any length of time when it could be generating a return, there are often valid reasons for being unable to source a suitable tenant or buyer.
Reliefs, which have been in place for decades, are now being arbitrarily removed – with no right of appeal – and property professionals who might have been able to sit out void periods will now most likely face enforcement orders.