What are the business rates on empty property, and how are they calculated?
Business rates on empty property are charges imposed by local councils on non-residential properties that are vacant. In the UK, properties that are empty for more than three months (except for industrial properties) are subject to business rates, though there may be exemptions or discounts for specific cases, such as small businesses or properties that are empty due to redevelopment. The rateable value, set by the Valuation Office Agency (VOA), determines the amount payable. Typically, business rates on empty property are higher than those on occupied properties, making it important for property owners to keep track of their vacancy status. To reduce the financial burden, many businesses opt to maintain occupancy or apply for relief schemes when possible.