8th September, 2011 - Posted by admin - Comments Off
From April 2011 commercial property owners have been placed under extreme financial pressure when the Government dramatically lowered the Empty Property Rate threshold from £18,000 to £2,600.
The Rating (Empty Properties) Act 2007 applies to properties with a Rateable Value of £2,600.
Following strong lobbying by the BCA – In 2008 the Chancellor (Alistair Darling) announced a brief respite from the new legislation detailed in the 2008 Pre-Budget Report. Properties under a Rateable Value of £15,000 would be exempt for the 2009-10 financial year. The BCA continued to lobby forcefully and this was extended for the 2010-11 financial year and the threshold was lifted to £18,000, in order to help and support SMEs during the downturn.
Yesterday (06.09.11) the Financial Times reported that The British Chambers of Commerce has written a letter to the Chancellor saying that the tax could have “perverse consequences” and that reversing it will help business confidence.
click here NOW to sign http://epetitions.direct.gov.uk/petitions/318
forward it to all your colleagues, employees, business associates, put the links on your social networks, tweet them, blog them. Do whatever you can to help us achieve 100,000 signatures which will ensure that we trigger a debate in Parliament – hopefully, prior to The Chancellor, George Osborne making his autumn statement on Tuesday 29 November.
We have to let Government know they need to reduce the TAX burden so that businesses and entrepreneurs are not being inhibited and can grow their businesses and generate jobs that are so vital to our economic recovery.
Many members of the Government aggressively fought against this policy in opposition – at one point it was called “wicked and ungodly” –
they should regain some of that zeal and announce a reversal in the Autumn.