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2007-05-01 : Petition to abandon the proposed scrapping of empty rates relief on business premises

The Budget proposals will restrict regeneration (as speculative development stalls and buildings are deconstructed to avoid tax), cause hardship to tenants locked into leases with restrictive subletting provisions, cause a decline in capital values (affecting pension funds already very hard hit under previous budgets) and drive business overseas where property taxes are much lower. The newly launched Code for Leasing Business Premises may well be compromised as landlords become reluctant to vary terms which ensure that the burden of empty rates costs falls on tenants.

Deadline to sign up by: 11 May 2007

 

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