New efforts are being made to get the Government to reconsider its abolishing of tax relief, in April of this year, for empty properties by business groups such as the British Property Federation (BPF).
The tax, that charges landlords for empty properties, had been implemented to prevent retail and residential spaces from being left empty for long periods of time.
However with the current economic climate means it is financially unviable to develop new residential or commercial space without having guaranteed tenants lining up to sign on the doted line.
In fact with the UK heading into recession some landlords have taken to the extraordinary lengths of demolishing empty properties, therefore giving the ‘Bombsite Britain’ moniker to the tax.
With the economic climate worsening businesses are looking at every opportunity to cut costs and save money. By using www.lowerpremium.co.uk small businesses can save money on their business insurance as it will compare quotes from UK business insurance providers.
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