PBR: Tax relief for empty properties

The chancellor said today that small businesses will have a temporary increase in tax relief thresholds for empty properties. For 2009/10, empty commercial properties with a rateable value below £15,000 will be exempt from business rates. This exemption covers an estimated 70% of all empty properties. But Ros Rowe, real estate tax partner at PricewaterhouseCoopers, said: 'The uniform business rate reduction is disappointing. It will not help major developers or stop the demolition of core buildings such as those found in major town centres.'
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