Rates threshold will be slashed

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THE Government will be slashing its business rates threshold for empty properties in April, meaning commercial landlords will pay more.

The threshold will be reduced from £18,000 to £2,600 from April 1.

Property owners could be paying more for their empty commercial premises once Government changes to business rates are introduced from April 1.

What it means to landlords is that empty commercial property with a rateable value of more than £2,600, will incur a 100 per cent empty rate charge. Listed buildings will remain exempt while empty.

To find out more about business rates go to businesslink.gov.uk or contact the relevant local authority.