Supreme Court rules on value of vacant offices
The UK Supreme Court has allowed, in a majority judgment, an appeal by the Valuation Officer against a decision of the Court of Appeal that the rateable value of a large, vacant, office block in Blackpool should be a nominal figure of £1. The three-two majority judgment of the Supreme Court is that the valuation for the building of rateable value £370,000, determined by the Upper Tribunal (Lands Chamber), should be reinstated. ...Read More
Business rates mitigation schemes were legally sound
The Court of Appeal has found that empty rates mitigation schemes, based on a “managed insolvency” process were legal and effective. The Court rejected challenges to these schemes made by Rossendale Borough Council and Wigan Council and allowed appeals by the companies organising the schemes. The decision will be welcomed by those owners of vacant buildings who have used these schemes to mitigate their rates liabilities.
Treasury Select Committee to review business rates policy
The Parliamentary Treasury Select Committee has launched an inquiry into business rates to scrutinise how Government policy has impacted business. The Committee will examine how business rates policy has changed, including business rates retention, alternatives to property-based taxes, such as the proposed digital services tax, and how changes to business rates could impact businesses.